Endeavour Silver (NYSE:EXK) Trading Up 9.6% – Here’s What Happened

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s share price rose 9.6% during mid-day trading on Friday . The company traded as high as $10.77 and last traded at $10.7230. Approximately 4,852,049 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 13,131,034 shares. The stock had previously closed at $9.78.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EXK. Natl Bk Canada raised shares of Endeavour Silver to a “strong-buy” rating in a research note on Tuesday, December 9th. B. Riley increased their target price on shares of Endeavour Silver from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Raymond James Financial reaffirmed an “outperform” rating on shares of Endeavour Silver in a research report on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Endeavour Silver in a research report on Wednesday, October 8th. Finally, Cibc Captl Mkts upgraded shares of Endeavour Silver from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Five research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Endeavour Silver has an average rating of “Buy” and a consensus price target of $13.13.

Endeavour Silver Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $8.76 and its 200-day moving average is $7.21. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -31.48 and a beta of 1.23.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted 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). Endeavour Silver had a negative net margin of 31.18% and a negative return on equity of 1.34%. The business had revenue of $111.40 million during the quarter, compared to the consensus estimate of $162.05 million. Equities research analysts anticipate that Endeavour Silver Corporation will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Endeavour Silver

Large investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new position in Endeavour Silver in the 3rd quarter valued at $14,146,000. Swiss Life Asset Management Ltd bought a new stake in shares of Endeavour Silver in the third quarter valued at about $92,000. Parvin Asset Management LLC grew its stake in shares of Endeavour Silver by 82.1% in the third quarter. Parvin Asset Management LLC now owns 322,125 shares of the mining company’s stock valued at $2,525,000 after acquiring an additional 145,275 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Endeavour Silver during the third quarter worth about $12,754,000. Finally, Verition Fund Management LLC acquired a new stake in Endeavour Silver in the 3rd quarter worth about $1,727,000. Institutional investors 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.