Endeavour Silver (NYSE:EXK) Shares Gap Down – Here’s What Happened

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $9.47, but opened at $8.33. Endeavour Silver shares last traded at $8.5250, with a volume of 7,060,891 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright boosted their target price on shares of Endeavour Silver from $14.50 to $17.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. National Bank Financial upgraded Endeavour Silver to a “strong-buy” rating in a research note on Tuesday, December 9th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Endeavour Silver in a research report on Wednesday, February 4th. Alliance Global Partners reissued a “buy” rating on shares of Endeavour Silver in a report on Friday, January 9th. Finally, Zacks Research cut shares of Endeavour Silver from a “hold” rating to a “strong sell” rating in a research note on Monday. Two 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.50.

Endeavour Silver Price Performance

The company has a quick ratio of 1.30, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2.53 billion, a PE ratio of -20.46 and a beta of 1.16. The stock has a 50-day moving average price of $11.88 and a 200 day moving average price of $9.45.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its earnings results on Friday, February 27th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $172.60 million for the quarter, compared to analysts’ expectations of $227.99 million. Endeavour Silver had a negative net margin of 27.52% and a negative return on equity of 1.29%. Equities analysts forecast that Endeavour Silver Corporation will post -0.07 EPS for the current fiscal year.

Institutional Trading of Endeavour Silver

Institutional investors have recently modified their holdings of the stock. Total Investment Management Inc. purchased a new stake in shares of Endeavour Silver during the second quarter worth about $41,000. Caitong International Asset Management Co. Ltd boosted its holdings in Endeavour Silver by 389.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,583 shares of the mining company’s stock worth $43,000 after buying an additional 3,647 shares during the last quarter. Signaturefd LLC purchased a new stake in Endeavour Silver during the 4th quarter worth approximately $47,000. Centric Wealth Management acquired a new position in shares of Endeavour Silver during the second quarter valued at approximately $60,000. Finally, Andina Capital Management LLC acquired a new position in shares of Endeavour Silver during the third quarter valued at approximately $89,000. 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.