Endeavour Silver (NYSE:EXK) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Endeavour Silver Corporation stock price crossed above its 200-day moving average of $4.65, reaching a high of $6.49 during trading on Monday.
• Analysts have shown increasing optimism, with ratings evolving from "sell" to "strong-buy" and a new average target price of $8.33.
• The company reported a revenue of $85.30 million for the last quarter, surpassing expectations, but had a negative EPS of ($0.03), missing estimates.

Shares of Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.65 and traded as high as $6.49. Endeavour Silver shares last traded at $6.48, with a volume of 13,166,186 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on EXK shares. HC Wainwright lifted their target price on shares of Endeavour Silver from $7.25 to $8.75 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. National Bank Financial raised shares of Endeavour Silver to a "strong-buy" rating in a report on Thursday, June 12th. Ventum Cap Mkts upgraded shares of Endeavour Silver to a "strong-buy" rating in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Endeavour Silver from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, CIBC upped their price target on Endeavour Silver from $7.25 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $8.33.

Endeavour Silver Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $5.76 and its 200-day moving average is $4.71. The company has a market capitalization of $1.98 billion, a P/E ratio of -25.04 and a beta of 1.30.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last announced its quarterly earnings data on Wednesday, August 13th. The mining company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). The business had revenue of $85.30 million during the quarter, compared to analysts' expectations of $81.48 million. Endeavour Silver had a negative return on equity of 0.62% and a negative net margin of 28.49%. Equities analysts anticipate that Endeavour Silver Corporation will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in Endeavour Silver in the 4th quarter worth approximately $732,000. Bank of America Corp DE boosted its stake in shares of Endeavour Silver by 239.2% in the 4th quarter. Bank of America Corp DE now owns 256,399 shares of the mining company's stock worth $938,000 after buying an additional 180,800 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Endeavour Silver by 5,119.2% in the 4th quarter. Deutsche Bank AG now owns 416,856 shares of the mining company's stock worth $1,526,000 after buying an additional 408,869 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Endeavour Silver in the 4th quarter worth $7,930,000. Finally, Two Sigma Investments LP boosted its stake in shares of Endeavour Silver by 88.4% in the 4th quarter. Two Sigma Investments LP now owns 727,762 shares of the mining company's stock worth $2,664,000 after buying an additional 341,468 shares during the last quarter. 20.06% of the stock is owned by hedge funds and other institutional investors.

About Endeavour Silver

Endeavour Silver Corp., a silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Chile and the United States. It explores for gold and silver deposits, and precious metals. The company was formerly known as Endeavour Gold Corp.