Endeavour Silver Corporation $EXK Shares Sold by Van ECK Associates Corp

Key Points

• Van ECK Associates reduced its Endeavour Silver stake by 15% in the second quarter, selling 3.52 million shares. It still held 20.03 million shares, worth approximately $165.8 million and representing 6.76% of the company.
• Endeavour Silver shares opened at $10.78, with a market capitalization of $3.19 billion and a 52-week range of $5.75 to $15.15. The company reported quarterly EPS of $0.15, in line with estimates, and revenue of $212.1 million, slightly above expectations.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50, despite one hold and one sell rating.

Van ECK Associates Corp lowered its stake in Endeavour Silver Corporation (NYSE:EXK - Free Report) TSE: EDR by 15.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,027,313 shares of the mining company's stock after selling 3,524,683 shares during the quarter. Van ECK Associates Corp owned about 6.76% of Endeavour Silver worth $165,757,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in Endeavour Silver in the 2nd quarter worth approximately $29,000. Harbor Investment Advisory LLC raised its stake in shares of Endeavour Silver by 166.7% during the second quarter. Harbor Investment Advisory LLC now owns 4,000 shares of the mining company's stock valued at $33,000 after purchasing an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Endeavour Silver by 389.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,583 shares of the mining company's stock worth $43,000 after purchasing an additional 3,647 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Endeavour Silver in the first quarter valued at $55,000. Finally, Bank of New York Mellon Corp acquired a new stake in Endeavour Silver during the 2nd quarter valued at $85,000. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

Endeavour Silver Stock Down 4.6%

EXK stock opened at $10.78 on Friday. The firm's 50-day simple moving average is $8.86 and its 200 day simple moving average is $9.66. 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 stock has a market cap of $3.19 billion, a PE ratio of 51.33 and a beta of 1.35. Endeavour Silver Corporation has a fifty-two week low of $5.75 and a fifty-two week high of $15.15.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. B. Riley Financial initiated coverage on shares of Endeavour Silver in a report on Monday, August 3rd. They issued a "buy" rating and a $14.00 price objective on the stock. Wall Street Zen lowered Endeavour Silver from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Endeavour Silver in a research report on Friday, July 17th. Finally, HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Endeavour Silver in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.50.

Endeavour Silver Profile

Endeavour Silver Corp. is a Vancouver-based precious metals mining company focused on the acquisition, development and operation of silver and gold properties in Mexico. Publicly listed on the New York Stock Exchange under the ticker EXK, the company has positioned itself as a mid-tier producer with a portfolio of high-grade, operating mines and exploration assets in key mineral belts.

Endeavour Silver's core business activities revolve around four principal underground mines located in the states of Durango, Zacatecas, Guanajuato and Jalisco.

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