Zacks Investment Research Upgrades Endeavour Silver Corporation (EXK) to “Strong-Buy”
Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage presently has a $3.25 price objective on the mining company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.70% from the company’s current price.
According to Zacks, “ENDEAVOUR SILVER CORP. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour’s two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company’s acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide. Endeavour stands out from other silver mining companies for the strong organic growth potential of its core assets, its high silver grades and leverage, the substantial exploration upside of its Mexican mining properties, and the significant under-utilized capacities of the Guanacevi and Bolanitos plants. “
Several other equities analysts have also recently weighed in on EXK. UBS AG upgraded shares of Endeavour Silver Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 5th. BidaskClub cut shares of Endeavour Silver Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Endeavour Silver Corporation in a research note on Tuesday, July 4th. Noble Financial restated a “buy” rating on shares of Endeavour Silver Corporation in a research note on Saturday, May 13th. Finally, ValuEngine cut shares of Endeavour Silver Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Endeavour Silver Corporation presently has an average rating of “Hold” and a consensus price target of $5.71.
Endeavour Silver Corporation (EXK) traded up 2.40% during trading on Monday, hitting $2.99. 1,385,879 shares of the stock traded hands. The company has a market cap of $380.63 million, a P/E ratio of 47.46 and a beta of -0.01. The firm has a 50-day moving average price of $3.04 and a 200 day moving average price of $3.50. Endeavour Silver Corporation has a 52-week low of $2.75 and a 52-week high of $5.95.
Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) last issued its quarterly earnings data on Wednesday, May 3rd. The mining company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Endeavour Silver Corporation had a net margin of 5.35% and a return on equity of 6.33%. The firm had revenue of $36.44 million for the quarter, compared to analysts’ expectations of $36.31 million. On average, equities analysts expect that Endeavour Silver Corporation will post $0.13 EPS for the current year.
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A number of large investors have recently made changes to their positions in EXK. UBS Group AG raised its position in Endeavour Silver Corporation by 16.0% in the first quarter. UBS Group AG now owns 742,981 shares of the mining company’s stock worth $2,363,000 after buying an additional 102,656 shares during the period. Global X Management Co. LLC raised its position in Endeavour Silver Corporation by 15.2% in the first quarter. Global X Management Co. LLC now owns 1,510,720 shares of the mining company’s stock worth $4,804,000 after buying an additional 199,276 shares during the period. Bank of Montreal Can raised its position in Endeavour Silver Corporation by 912.4% in the first quarter. Bank of Montreal Can now owns 112,460 shares of the mining company’s stock worth $358,000 after buying an additional 101,352 shares during the period. Van ECK Associates Corp raised its position in Endeavour Silver Corporation by 32.5% in the first quarter. Van ECK Associates Corp now owns 20,341,055 shares of the mining company’s stock worth $64,685,000 after buying an additional 4,989,578 shares during the period. Finally, Sprott Inc. raised its position in Endeavour Silver Corporation by 18.6% in the first quarter. Sprott Inc. now owns 500,759 shares of the mining company’s stock worth $1,592,000 after buying an additional 78,436 shares during the period. 32.27% of the stock is owned by institutional investors and hedge funds.
About Endeavour Silver Corporation
Endeavour Silver Corp. is engaged in silver mining in Mexico, and related activities, including property acquisition, exploration, development, mineral extraction, processing, refining and reclamation. The Company is engaged in exploration activities in Chile. The Company’s operating mining segments include Guanacevi, Bolanitos and El Cubo, which are located in Mexico, as well as Exploration and Corporate segments.
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