Bank of America Corp DE Purchases 2,420,259 Shares of Endeavour Silver Corporation $EXK

Key Points

• Bank of America acquired 2.42 million Endeavour Silver shares during the second quarter, worth approximately $20.04 million and representing about 0.82% of the company.
• Several other institutions also initiated positions, bringing total hedge fund and institutional ownership to 20.06% of Endeavour Silver.
• Endeavour Silver reported quarterly EPS of $0.15 and revenue of $212.1 million, while analysts maintain a “Moderate Buy” consensus with a $14.50 average price target versus a recent share price of $9.15.

Bank of America Corp DE purchased a new position in shares of Endeavour Silver Corporation (NYSE:EXK - Free Report) TSE: EDR during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,420,259 shares of the mining company's stock, valued at approximately $20,040,000. Bank of America Corp DE owned approximately 0.82% of Endeavour Silver at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EXK. Caisse de depot et placement du Quebec purchased a new stake in shares of Endeavour Silver during the second quarter worth about $2,444,000. Man Group plc acquired a new position in Endeavour Silver during the 2nd quarter valued at approximately $5,371,000. Legal & General Group Plc purchased a new position in shares of Endeavour Silver in the second quarter worth $2,334,000. The Manufacturers Life Insurance Company purchased a new position in shares of Endeavour Silver in the second quarter worth $2,191,000. Finally, Cibc World Market Inc. purchased a new position in shares of Endeavour Silver in the second quarter worth $339,000. Hedge funds and other institutional investors own 20.06% of the company's stock.

Endeavour Silver Price Performance

Shares of Endeavour Silver stock opened at $9.15 on Friday. The firm has a market cap of $2.71 billion, a PE ratio of 43.60 and a beta of 1.43. Endeavour Silver Corporation has a twelve month low of $6.60 and a twelve month high of $15.15. The company has a quick ratio of 1.65, a current ratio of 1.97 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $9.72 and a 200 day moving average price of $9.38.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last announced its earnings results on Wednesday, July 29th. The mining company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. The business had revenue of $212.10 million for the quarter, compared to analyst estimates of $210.79 million. Sell-side analysts predict that Endeavour Silver Corporation will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EXK. HC Wainwright reissued a "buy" rating and set a $17.00 price objective on shares of Endeavour Silver in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce lowered Endeavour Silver from an "outperform" rating to a "hold" rating in a research note on Tuesday. Wall Street Zen downgraded Endeavour Silver from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. B. Riley Financial assumed coverage on Endeavour Silver in a report on Monday, August 3rd. They set a "buy" rating and a $14.00 target price on the stock. Finally, Weiss Ratings upgraded Endeavour Silver from a "sell (d-)" rating to a "hold (c)" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Endeavour Silver presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.50.

About Endeavour Silver

Endeavour Silver Corp. is a Canadian precious-metals mining company focused on the acquisition, exploration, development, and operation of silver-gold properties. The company's activities include underground mining, mineral processing, project development, and exploration for additional deposits.

Endeavour Silver's operations and development assets are located primarily in Mexico, including the Guanaceví mine in Durango and the Bolañitos district in Guanajuato. The company has also advanced the Terronera project in Jalisco, a silver-gold development intended to support future production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.