Endeavour Silver (NYSE:EXK) Shares Gap Down – Time to Sell?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped down before the market opened on Tuesday . The stock had previously closed at $10.71, but opened at $10.22. Endeavour Silver shares last traded at $10.5550, with a volume of 1,770,581 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on EXK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Endeavour Silver in a research note on Friday, July 17th. Wall Street Zen lowered shares of Endeavour Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Endeavour Silver in a report on Thursday, July 9th. Finally, B. Riley Financial assumed coverage on shares of Endeavour Silver in a research note on Monday, August 3rd. They issued a “buy” rating and a $14.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have given 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.com, the company has an average rating of “Moderate Buy” and an average price target of $14.50.

Endeavour Silver Stock Up 8.8%

The company has a current ratio of 1.97, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. The firm’s 50 day simple moving average is $9.02 and its two-hundred day simple moving average is $9.62. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 53.05 and a beta of 1.43.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. The firm had revenue of $212.10 million during the quarter, compared to the consensus estimate of $210.79 million. On average, equities analysts forecast that Endeavour Silver Corporation will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Endeavour Silver

A number of hedge funds have recently added to or reduced their stakes in EXK. Vanguard Group Inc. lifted its position in shares of Endeavour Silver by 1,631.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company’s stock valued at $33,720,000 after acquiring an additional 4,056,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Endeavour Silver by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after purchasing an additional 3,005,563 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Endeavour Silver in the third quarter worth $20,225,000. Bank of America Corp DE bought a new position in shares of Endeavour Silver in the second quarter worth $20,040,000. Finally, Condire Management LP raised its stake in Endeavour Silver by 200.0% in the third quarter. Condire Management LP now owns 3,000,000 shares of the mining company’s stock valued at $23,520,000 after purchasing an additional 2,000,000 shares in 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.