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

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) shares were down 9.6% on Tuesday . The stock traded as low as $10.63 and last traded at $10.6170. Approximately 3,236,651 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 15,618,320 shares. The stock had previously closed at $11.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EXK shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Endeavour Silver in a research report on Wednesday, February 4th. Zacks Research raised shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. BMO Capital Markets reissued an “outperform” rating on shares of Endeavour Silver in a research report on Monday, January 19th. HC Wainwright restated a “buy” rating and issued a $14.50 target price (up from $11.00) on shares of Endeavour Silver in a report on Friday, January 9th. Finally, National Bank Financial raised shares of Endeavour Silver to a “strong-buy” rating in a research note on Tuesday, December 9th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $13.88.

Endeavour Silver Stock Down 4.2%

The firm has a 50-day simple moving average of $10.88 and a 200 day simple moving average of $8.51. The company has a market capitalization of $3.33 billion, a PE ratio of -33.12 and a beta of 1.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.79 and a quick ratio of 0.57.

Institutional Trading of Endeavour Silver

Several large investors have recently bought and sold shares of the company. Trexquant Investment LP grew its holdings in Endeavour Silver by 180.0% during the 4th quarter. Trexquant Investment LP now owns 1,585,412 shares of the mining company’s stock worth $14,903,000 after acquiring an additional 1,019,237 shares in the last quarter. Amundi acquired a new position in Endeavour Silver in the fourth quarter worth about $138,000. Ninepoint Partners LP bought a new stake in Endeavour Silver in the fourth quarter valued at about $4,087,000. Susquehanna Advisors Group Inc. acquired a new stake in Endeavour Silver during the fourth quarter valued at approximately $1,711,000. Finally, Russell Investments Group Ltd. grew its position in shares of Endeavour Silver by 1,141.4% in the 4th quarter. Russell Investments Group Ltd. now owns 24,828 shares of the mining company’s stock worth $234,000 after acquiring an additional 22,828 shares in the last quarter. Institutional investors and hedge funds own 20.06% of the company’s stock.

Endeavour Silver Company Profile

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.