Endeavour Silver (TSE:EDR) Shares Down 12.5% After Analyst Downgrade

Key Points

• Endeavour Silver shares fell 12.5% to C$12.94 after Canadian Imperial Bank of Commerce downgraded the stock from outperformer to neutral and cut its price target from C$25.00 to C$20.00.
• Despite the downgrade, analyst sentiment remains positive overall, with a consensus “Buy” rating and an average price target of C$18.03; other firms recently maintained or raised their bullish ratings.
• The company reported C$301.35 million in quarterly revenue and C$0.21 in earnings per share, while operating as a mid-tier silver producer with three mines in Mexico and Peru.

Endeavour Silver Corp. (TSE:EDR - Get Free Report) NYSE: EXK's stock price dropped 12.5% on Wednesday after Canadian Imperial Bank of Commerce downgraded the stock from an outperformer rating to a neutral rating. Canadian Imperial Bank of Commerce now has a C$20.00 price target on the stock, down from their previous price target of C$25.00. Endeavour Silver traded as low as C$12.90 and last traded at C$12.94. 1,354,426 shares were traded during trading, an increase of 7% from the average session volume of 1,268,494 shares. The stock had previously closed at C$14.79.

EDR has been the topic of a number of other reports. TD set a C$15.00 target price on shares of Endeavour Silver and gave the company a "buy" rating in a research note on Monday, August 24th. B. Riley Financial upgraded Endeavour Silver to a "strong-buy" rating in a research note on Monday, August 3rd. Finally, National Bank Financial raised their target price on Endeavour Silver from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$18.03.

Endeavour Silver Stock Down 11.5%

The company's 50 day simple moving average is C$13.44 and its 200-day simple moving average is C$13.07. The company has a debt-to-equity ratio of 34.64, a quick ratio of 2.38 and a current ratio of 1.97. The firm has a market capitalization of C$3.88 billion, a PE ratio of 65.45, a PEG ratio of 0.76 and a beta of 3.31.

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

About Endeavour Silver

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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