Endeavour Silver (TSE:EDR) Share Price Breaks Below 200 Day Moving Average - Here's What Happened

Key Points

• Endeavour Silver shares fell below their 200-day moving average of C$12.96, reaching as low as C$12.16 before closing at C$12.20 on volume of approximately 1.15 million shares.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a target price of C$19.20, although CIBC downgraded the stock to “Hold” and cut its target to C$20.00.
• The company reported quarterly EPS of C$0.21 and revenue of C$301.35 million; Endeavour operates three silver mines in Mexico and Peru and has additional exploration projects in North and South America.

Endeavour Silver Corp. (TSE:EDR - Get Free Report) NYSE: EXK's stock price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$12.96 and traded as low as C$12.16. Endeavour Silver shares last traded at C$12.20, with a volume of 1,147,315 shares.

Wall Street Analyst Weigh In

EDR has been the topic of several analyst reports. TD set a C$15.00 target price on Endeavour Silver and gave the company a "buy" rating in a research report on Monday, August 24th. B. Riley Financial upgraded Endeavour Silver to a "strong-buy" rating in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce downgraded Endeavour Silver from an "outperformer" rating to a "hold" rating and decreased their price objective for the stock from C$25.00 to C$20.00 in a research note on Wednesday, September 23rd. Finally, National Bank Financial raised their price objective on Endeavour Silver from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Endeavour Silver currently has a consensus rating of "Buy" and a consensus target price of C$19.20.

Endeavour Silver Price Performance

The firm has a 50-day moving average of C$13.66 and a 200-day moving average of C$12.96. The stock has a market cap of C$3.61 billion, a PE ratio of 61.00, a PEG ratio of 0.76 and a beta of 3.31. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.97 and a quick ratio of 2.38.

Endeavour Silver (TSE:EDR - Get Free Report) NYSE: EXK last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.21 EPS for the quarter. Endeavour Silver had a return on equity of 10.49% and a net margin of 8.73%.The company had revenue of C$301.35 million for the quarter. Research analysts predict that Endeavour Silver Corp. will post 0.6341991 EPS for the current year.

Endeavour Silver Company Profile

Endeavour is a mid-tier silver producer with three operating mines in Mexico and Peru and a robust pipeline of exploration projects across Mexico, Chile, and the United States. With a proven track record of discovery, development, and responsible mining, Endeavour is driving organic growth and creating lasting value on its path to becoming a leading senior silver producer.

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