Endeavour Silver (NYSE:EXK) Shares Gap Down – Should You Sell?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.51, but opened at $10.05. Endeavour Silver shares last traded at $9.3410, with a volume of 2,611,356 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXK. Wall Street Zen cut shares of Endeavour Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Endeavour Silver in a report on Thursday, July 9th. B. Riley Financial started coverage on Endeavour Silver in a research report on Monday, August 3rd. They set a “buy” rating and a $14.00 price objective for the company. Canadian Imperial Bank of Commerce lowered Endeavour Silver from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Endeavour Silver currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Endeavour Silver Stock Down 12.7%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.65 and a current ratio of 1.97. The firm’s 50-day simple moving average is $9.66 and its 200 day simple moving average is $9.41. The company has a market cap of $2.72 billion, a P/E ratio of 43.79 and a beta of 1.43.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its earnings results on Wednesday, July 29th. The mining company reported $0.15 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $210.79 million. On average, research analysts forecast that Endeavour Silver Corporation will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EXK. BNP Paribas Financial Markets lifted its position in shares of Endeavour Silver by 42.8% during the 4th quarter. BNP Paribas Financial Markets now owns 3,039,797 shares of the mining company’s stock valued at $28,574,000 after acquiring an additional 910,378 shares during the period. Bank of America Corp DE lifted its holdings in Endeavour Silver by 85.4% during the first quarter. Bank of America Corp DE now owns 2,706,532 shares of the mining company’s stock valued at $25,198,000 after purchasing an additional 1,246,554 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Endeavour Silver by 121.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,312,065 shares of the mining company’s stock valued at $21,535,000 after buying an additional 1,268,035 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Endeavour Silver by 18,554.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,902,800 shares of the mining company’s stock valued at $17,715,000 after acquiring an additional 1,892,600 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Endeavour Silver in the second quarter valued at $10,192,000. 20.06% of the stock is currently owned by institutional investors and hedge funds.

Endeavour Silver Company Profile

Endeavour Silver Corp. is a Canadian precious-metals mining company focused on the acquisition, exploration, development, and operation of silver-gold properties. The company’s activities include underground mining, mineral processing, project development, and exploration for additional deposits.

Endeavour Silver’s operations and development assets are located primarily in Mexico, including the Guanaceví mine in Durango and the Bolañitos district in Guanajuato. The company has also advanced the Terronera project in Jalisco, a silver-gold development intended to support future production.