Endeavour Silver Corporation $EXK Stake Trimmed by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its Endeavour Silver stake by 81.6% in the first quarter, selling 206,356 shares and retaining 46,608 shares valued at approximately $434,000.
• Endeavour Silver shares opened at $11.10, up 3.1%, with a market capitalization of $3.29 billion. The stock has traded between $5.63 and $15.15 over the past year.
• The company met quarterly earnings expectations with EPS of $0.15 and revenue of $212.1 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $14.50, though ratings range from “Sell” to “Strong Buy.”

Royal Bank of Canada cut its position in shares of Endeavour Silver Corporation (NYSE:EXK - Free Report) TSE: EDR by 81.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,608 shares of the mining company's stock after selling 206,356 shares during the quarter. Royal Bank of Canada's holdings in Endeavour Silver were worth $434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXK. Schroder Investment Management Group raised its holdings in shares of Endeavour Silver by 8.8% during the fourth quarter. Schroder Investment Management Group now owns 10,966 shares of the mining company's stock valued at $107,000 after acquiring an additional 887 shares during the period. Quarry LP boosted its stake in Endeavour Silver by 2.0% in the 3rd quarter. Quarry LP now owns 74,258 shares of the mining company's stock worth $582,000 after purchasing an additional 1,490 shares during the period. Swiss Life Asset Management Ltd grew its position in Endeavour Silver by 15.6% during the 4th quarter. Swiss Life Asset Management Ltd now owns 13,598 shares of the mining company's stock worth $128,000 after purchasing an additional 1,836 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Endeavour Silver by 3.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,315 shares of the mining company's stock worth $598,000 after purchasing an additional 2,664 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Endeavour Silver by 1.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 269,186 shares of the mining company's stock valued at $2,537,000 after purchasing an additional 3,133 shares during the period. 20.06% of the stock is currently owned by institutional investors and hedge funds.

Endeavour Silver Stock Up 3.1%

EXK stock opened at $11.10 on Wednesday. The company has a 50 day moving average of $8.73 and a two-hundred day moving average of $9.65. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 52.85 and a beta of 1.35. Endeavour Silver Corporation has a 12-month low of $5.63 and a 12-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.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.15 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 analysts' expectations of $210.79 million. On average, equities analysts anticipate that Endeavour Silver Corporation will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EXK. Wall Street Zen cut Endeavour Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. HC Wainwright reissued a "buy" rating and set a $17.00 price target on shares of Endeavour Silver in a research report on Thursday, July 9th. Zacks Research raised Endeavour Silver from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Endeavour Silver in a research report on Friday, July 17th. Finally, B. Riley Financial initiated coverage on Endeavour Silver in a research note on Monday, August 3rd. They set a "buy" rating and a $14.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.50.

Endeavour Silver Company 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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