Endeavour Silver (NYSE:EXK) Shares Gap Up - Time to Buy?

Key Points

• Endeavour Silver shares jumped 5.6%, opening at $10.68 after closing at $10.24 and later trading near $10.91 on roughly 1.5 million shares.
• Analyst sentiment is generally positive but mixed: MarketBeat reports a “Moderate Buy” consensus with a $14.50 price target, while individual ratings range from Strong Buy to Sell.
• The company met quarterly earnings expectations at $0.15 per share and slightly exceeded revenue estimates, while institutional ownership stands at 20.06% following purchases and stake increases by several major investors.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR's share price gapped up prior to trading on Wednesday . The stock had previously closed at $10.24, but opened at $10.68. Endeavour Silver shares last traded at $10.9090, with a volume of 1,506,925 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Endeavour Silver from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. HC Wainwright reaffirmed a "buy" rating and issued a $17.00 target price on shares of Endeavour Silver in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Endeavour Silver in a research report on Friday, July 17th. Finally, B. Riley Financial started coverage on shares of Endeavour Silver in a research note on Monday, August 3rd. They set a "buy" rating and a $14.00 target price for the company. 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 assigned a Sell rating to the company. Based on data from MarketBeat, Endeavour Silver has a consensus rating of "Moderate Buy" and a consensus price target of $14.50.

Endeavour Silver Stock Up 5.6%

The business has a 50 day simple moving average of $8.95 and a 200 day simple moving average of $9.62. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 51.39 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.97 and a quick ratio of 1.65.

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

Institutional Trading of Endeavour Silver

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Endeavour Silver during the first quarter worth about $1,774,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Endeavour Silver in the 2nd quarter valued at about $4,075,000. Bank of America Corp DE boosted its position in shares of Endeavour Silver by 85.4% in the 1st quarter. Bank of America Corp DE now owns 2,706,532 shares of the mining company's stock valued at $25,198,000 after purchasing an additional 1,246,554 shares during the period. PEAK6 LLC acquired a new stake in shares of Endeavour Silver in the 2nd quarter valued at about $1,794,000. Finally, Renaissance Technologies LLC grew its stake in Endeavour Silver by 18,554.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,902,800 shares of the mining company's stock worth $17,715,000 after buying an additional 1,892,600 shares during the last quarter. 20.06% of the stock is currently 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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