Endeavour Silver (NYSE:EXK) Shares Down 9.2% – Here’s What Happened

Shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) fell 9.2% during trading on Friday . The company traded as low as $9.77 and last traded at $9.8020. 4,694,361 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 11,831,343 shares. The stock had previously closed at $10.79.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EXK. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Endeavour Silver in a research note on Wednesday, February 4th. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Endeavour Silver in a report on Thursday, May 7th. Zacks Research raised shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Endeavour Silver from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Endeavour Silver in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Endeavour Silver Price Performance

The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.94 billion, a PE ratio of -124.43 and a beta of 1.26. The firm’s fifty day simple moving average is $9.86 and its two-hundred day simple moving average is $10.06.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its quarterly earnings results on Wednesday, May 6th. The mining company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.11. Endeavour Silver had a negative net margin of 3.68% and a positive return on equity of 9.33%. The business had revenue of $209.70 million for the quarter, compared to the consensus estimate of $200.41 million. As a group, research analysts expect that Endeavour Silver Corporation will post 0.63 EPS for the current year.

Institutional Investors Weigh In On Endeavour Silver

Several institutional investors and hedge funds have recently modified their holdings of EXK. Vanguard Group Inc. raised its position in shares of Endeavour Silver by 1,631.7% during the third quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company’s stock valued at $33,720,000 after buying an additional 4,056,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Endeavour Silver by 38.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock valued at $85,474,000 after buying an additional 3,005,563 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Endeavour Silver during the third quarter valued at approximately $20,225,000. Alps Advisors Inc. raised its position in shares of Endeavour Silver by 113.9% during the third quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company’s stock valued at $34,965,000 after buying an additional 2,374,365 shares during the last quarter. Finally, Condire Management LP raised its position in shares of Endeavour Silver by 200.0% during the third quarter. Condire Management LP now owns 3,000,000 shares of the mining company’s stock valued at $23,520,000 after buying an additional 2,000,000 shares during the last quarter. Institutional investors 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.