Endeavour Silver (NYSE:EXK) Shares Gap Down - Should You Sell?

Key Points

• Endeavour Silver shares fell 3.0%, opening at $10.22 after previously closing at $10.71, with the stock later trading near $10.56.
• Analyst sentiment remains broadly positive: the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50, despite one sell rating and a recent hold downgrade.
• The company met quarterly earnings expectations with EPS of $0.15 and revenue of $212.1 million, while institutional ownership stands at 20.06% and several funds recently increased or initiated positions.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR's share price gapped down prior to trading on Tuesday . The stock had previously closed at $10.71, but opened at $10.22. Endeavour Silver shares last traded at $10.5550, with a volume of 1,770,581 shares changing hands.

Analyst Upgrades and Downgrades

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

Endeavour Silver Stock Down 3.0%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.65 and a current ratio of 1.97. The firm's 50-day moving average is $8.91 and its 200 day moving average is $9.64. The firm has a market capitalization of $3.08 billion, a PE ratio of 49.45 and a beta of 1.35.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Amundi lifted its stake in Endeavour Silver by 66.3% in the 2nd quarter. Amundi now owns 54,341 shares of the mining company's stock valued at $450,000 after buying an additional 21,658 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Endeavour Silver by 223.5% during the second quarter. TD Waterhouse Canada Inc. now owns 3,500 shares of the mining company's stock worth $29,000 after buying an additional 2,418 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Endeavour Silver in the second quarter worth $200,000. GTS Securities LLC acquired a new position in shares of Endeavour Silver in the second quarter worth $156,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Endeavour Silver in the second quarter valued at $1,218,000. 20.06% of the stock is owned by hedge funds and other institutional investors.

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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