Endeavour Silver (NYSE:EXK) Shares Gap Down Following Analyst Downgrade

Key Points

• Endeavour Silver shares fell after opening sharply lower, dropping from a prior close of $8.34 to an opening price of $7.85, after HC Wainwright cut its price target from $17.00 to $16.75 while maintaining a Buy rating.
• Analyst sentiment remains broadly positive: the stock has a MarketBeat average rating of Moderate Buy and an average price target of $13.92, though some firms have downgraded it to Hold or Market Perform.
• In its latest quarter, Endeavour Silver reported earnings of $0.14 per share, above the $0.09 consensus estimate, but revenue of $184.5 million came in below analysts’ $197 million forecast.

Shares of Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR gapped down before the market opened on Tuesday after HC Wainwright lowered their price target on the stock from $17.00 to $16.75. The stock had previously closed at $8.34, but opened at $7.85. HC Wainwright currently has a buy rating on the stock. Endeavour Silver shares last traded at $8.13, with a volume of 1,110,240 shares trading hands.

Other equities research analysts also recently issued reports about the company. B. Riley Financial initiated coverage on Endeavour Silver in a research note on Monday, August 3rd. They issued a "buy" rating and a $14.00 price objective for the company. Wall Street Zen cut Endeavour Silver from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Weiss Ratings upgraded Endeavour Silver from a "sell (d-)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd. Citigroup lowered shares of Endeavour Silver to a "market perform" rating in a research report on Friday, October 9th. Finally, Canadian Imperial Bank of Commerce lowered shares of Endeavour Silver from an "outperform" rating to a "hold" rating in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.92.

Institutional Trading of Endeavour Silver

Several hedge funds and other institutional investors have recently modified their holdings of EXK. HighTower Advisors LLC grew its stake in Endeavour Silver by 8.5% in the third quarter. HighTower Advisors LLC now owns 25,467 shares of the mining company's stock valued at $219,000 after purchasing an additional 2,000 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Endeavour Silver by 257.3% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 131,514 shares of the mining company's stock valued at $1,128,000 after buying an additional 94,711 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Endeavour Silver by 2.9% during the 3rd quarter. International Assets Investment Management LLC now owns 397,635 shares of the mining company's stock valued at $3,404,000 after buying an additional 11,075 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Endeavour Silver by 10.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,919 shares of the mining company's stock valued at $188,000 after buying an additional 2,134 shares during the last quarter. Finally, Encompass More Asset Management acquired a new stake in shares of Endeavour Silver during the 3rd quarter valued at about $86,000. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

Endeavour Silver Trading Down 3.3%

The firm has a market cap of $2.39 billion, a P/E ratio of 38.72 and a beta of 1.38. The company has a 50 day moving average of $8.94 and a 200 day moving average of $9.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.65 and a current ratio of 1.97.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last issued its quarterly earnings data on Monday, November 9th. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $184.50 million for the quarter, compared to analyst estimates of $197.00 million. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. Analysts predict that Endeavour Silver Corporation will post 0.68 EPS for the current fiscal year.

About Endeavour Silver

Endeavour Silver Corp. is a Canadian mining company that acquires, explores, develops and operates silver and gold properties. Founded in 2004, the company focuses on producing precious metals and expanding its portfolio through mine development and exploration.

Its mining and development activities have centered on Mexico, including the Guanaceví and Bolañitos operations and the Terronera project. Endeavour has also expanded into Peru through its acquisition of the Kolpa mine, which produces silver as well as lead, zinc and copper.

Endeavour Silver is headquartered in Vancouver, British Columbia.

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