Endeavour Silver (NYSE:EXK) Stock Price Down 8.7% - Here's Why

Key Points

• Endeavour Silver's stock price fell **8.7%** during mid-day trading on Friday, with shares trading as low as **$9.26** and averaging a volume decline of **60%** from previous levels.
• Analysts have mixed views; while Wall Street Zen upgraded the stock to a "hold," Weiss Ratings maintains a "sell" rating, resulting in a consensus rating of **"Moderate Buy."**
• The company reported a loss of **($0.03)** earnings per share last quarter, missing estimates, despite revenue of **$85.30 million** exceeding expectations of **$81.48 million**.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR's stock price dropped 8.7% during mid-day trading on Friday . The stock traded as low as $9.26 and last traded at $9.27. Approximately 5,089,368 shares changed hands during trading, a decline of 60% from the average daily volume of 12,588,141 shares. The stock had previously closed at $10.15.

Wall Street Analyst Weigh In

EXK has been the topic of several research reports. Wall Street Zen upgraded shares of Endeavour Silver from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Raymond James Financial reissued an "outperform" rating on shares of Endeavour Silver in a research note on Friday, October 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Endeavour Silver in a research note on Wednesday, October 8th. CIBC upped their target price on shares of Endeavour Silver from $7.25 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, HC Wainwright upped their target price on shares of Endeavour Silver from $8.75 to $9.75 and gave the company a "buy" rating in a research note on Thursday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Endeavour Silver currently has a consensus rating of "Moderate Buy" and an average target price of $8.67.

Endeavour Silver Price Performance

The company has a market cap of $2.62 billion, a P/E ratio of -33.24 and a beta of 1.29. The company's 50-day moving average price is $6.75 and its 200-day moving average price is $5.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.93 and a quick ratio of 0.65.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last released its earnings results 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 the consensus estimate of $81.48 million. Endeavour Silver had a negative net margin of 28.49% and a negative return on equity of 0.62%. As a group, sell-side analysts predict that Endeavour Silver Corporation will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Endeavour Silver

Hedge funds have recently modified their holdings of the stock. Azarias Capital Management L.P. acquired a new stake in Endeavour Silver in the 2nd quarter worth about $5,606,000. Stonehage Fleming Financial Services Holdings Ltd raised its stake in Endeavour Silver by 583.3% in the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 165,020 shares of the mining company's stock worth $812,000 after purchasing an additional 140,870 shares in the last quarter. Aire Advisors LLC acquired a new stake in Endeavour Silver in the 2nd quarter worth about $148,000. Invesco Ltd. raised its stake in Endeavour Silver by 56.0% in the 1st quarter. Invesco Ltd. now owns 3,301,752 shares of the mining company's stock worth $14,098,000 after purchasing an additional 1,185,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Endeavour Silver by 133.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,309,093 shares of the mining company's stock worth $5,590,000 after purchasing an additional 747,556 shares in the last quarter. Institutional investors and hedge funds own 20.06% of the company's stock.

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.

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