Endeavour Silver (NYSE:EXK) Shares Gap Up – Here’s Why

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped up prior to trading on Monday . The stock had previously closed at $9.52, but opened at $10.02. Endeavour Silver shares last traded at $10.07, with a volume of 2,404,352 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EXK shares. B. Riley lifted their price objective on shares of Endeavour Silver from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Endeavour Silver in a research report on Tuesday, November 25th. Raymond James Financial reiterated an “outperform” rating on shares of Endeavour Silver in a research note on Friday, October 10th. CIBC raised Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 price objective on the stock in a research note on Monday, November 3rd. Finally, Cibc Captl Mkts upgraded Endeavour Silver from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Endeavour Silver presently has an average rating of “Buy” and an average target price of $12.67.

Endeavour Silver Stock Up 5.9%

The firm’s 50-day simple moving average is $8.42 and its two-hundred day simple moving average is $6.75. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -29.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.79.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its quarterly earnings results on Friday, November 7th. The mining company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company had revenue of $111.40 million during the quarter, compared to analyst estimates of $162.05 million. Endeavour Silver had a negative net margin of 31.18% and a negative return on equity of 1.34%. On average, sell-side analysts expect that Endeavour Silver Corporation will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Endeavour Silver

Several institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new position in Endeavour Silver in the third quarter valued at approximately $14,146,000. Swiss Life Asset Management Ltd acquired a new position in shares of Endeavour Silver in the 3rd quarter valued at $92,000. Parvin Asset Management LLC lifted its stake in shares of Endeavour Silver by 82.1% in the 3rd quarter. Parvin Asset Management LLC now owns 322,125 shares of the mining company’s stock valued at $2,525,000 after purchasing an additional 145,275 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Endeavour Silver in the 3rd quarter worth $12,754,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Endeavour Silver during the third quarter worth $1,727,000. Institutional investors and hedge funds own 20.06% of the company’s stock.

About Endeavour Silver

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.