Endeavour Silver (NYSE:EXK) Trading Down 5.1% - Here's Why

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR shares dropped 5.1% during mid-day trading on Tuesday . The company traded as low as $5.06 and last traded at $4.98. Approximately 1,716,090 shares traded hands during trading, a decline of 81% from the average daily volume of 9,013,755 shares. The stock had previously closed at $5.24.

Wall Street Analysts Forecast Growth

EXK has been the topic of a number of research reports. National Bank Financial upgraded shares of Endeavour Silver to a "strong-buy" rating in a research report on Thursday, June 12th. HC Wainwright lifted their price objective on shares of Endeavour Silver from $7.25 to $8.75 and gave the company a "buy" rating in a research report on Wednesday. Ventum Cap Mkts upgraded shares of Endeavour Silver to a "strong-buy" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Endeavour Silver from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Raymond James Financial initiated coverage on shares of Endeavour Silver in a research report on Friday, March 21st. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Endeavour Silver currently has an average rating of "Buy" and an average price target of $7.50.

Endeavour Silver Stock Up 7.1%

The company has a market capitalization of $1.69 billion, a PE ratio of -22.44 and a beta of 1.50. The firm's 50-day simple moving average is $4.26 and its 200 day simple moving average is $4.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.77 and a current ratio of 1.14.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last released its quarterly earnings results on Tuesday, May 13th. The mining company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). The firm had revenue of $63.50 million for the quarter, compared to analyst estimates of $83.10 million. Endeavour Silver had a positive return on equity of 1.18% and a negative net margin of 29.07%. As a group, equities research analysts forecast that Endeavour Silver Corporation will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EXK. Raymond James Financial Inc. acquired a new position in shares of Endeavour Silver during the 4th quarter worth $321,000. HighTower Advisors LLC raised its stake in Endeavour Silver by 28.3% in the 4th quarter. HighTower Advisors LLC now owns 157,201 shares of the mining company's stock valued at $575,000 after purchasing an additional 34,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Endeavour Silver by 122.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,515,836 shares of the mining company's stock valued at $23,858,000 after purchasing an additional 3,581,936 shares during the last quarter. Swiss National Bank raised its stake in Endeavour Silver by 2.1% in the 4th quarter. Swiss National Bank now owns 485,900 shares of the mining company's stock valued at $1,781,000 after purchasing an additional 9,800 shares during the last quarter. Finally, Vestcor Inc acquired a new position in Endeavour Silver in the 4th quarter valued at about $549,000. Institutional investors and hedge funds own 20.06% of the company's stock.

Endeavour Silver Company Profile

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.