Endeavour Silver (NYSE:EXK) (TSE:EDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The firm presently has a $2.25 price target on the mining company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 7.66% from the stock’s current price.
According to Zacks, “ENDEAVOUR SILVER CORP. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour’s two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company’s acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide. Endeavour stands out from other silver mining companies for the strong organic growth potential of its core assets, its high silver grades and leverage, the substantial exploration upside of its Mexican mining properties, and the significant under-utilized capacities of the Guanacevi and Bolanitos plants. “
Several other equities analysts have also commented on the stock. Noble Financial raised shares of Endeavour Silver to a “buy” rating and set a $3.00 price objective for the company in a research report on Monday, September 23rd. ValuEngine lowered shares of Endeavour Silver from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, HC Wainwright increased their price objective on shares of Endeavour Silver from $3.00 to $4.25 and gave the company a “buy” rating in a research report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $3.00.
Shares of NYSE:EXK traded down $0.01 during trading on Monday, reaching $2.09. The stock had a trading volume of 2,659,054 shares, compared to its average volume of 1,924,229. Endeavour Silver has a one year low of $1.68 and a one year high of $3.20. The company has a market capitalization of $292.13 million, a P/E ratio of -23.22 and a beta of 0.10. The company has a current ratio of 3.28, a quick ratio of 2.54 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $2.49 and its 200 day simple moving average is $2.24.
Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its quarterly earnings results on Thursday, August 8th. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Endeavour Silver had a negative net margin of 25.06% and a negative return on equity of 21.18%. The firm had revenue of $29.38 million during the quarter, compared to the consensus estimate of $28.00 million. Equities research analysts forecast that Endeavour Silver will post -0.11 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in EXK. Advisor Group Inc. raised its position in Endeavour Silver by 16.2% during the 2nd quarter. Advisor Group Inc. now owns 32,144 shares of the mining company’s stock worth $66,000 after buying an additional 4,493 shares during the last quarter. Swiss National Bank raised its position in Endeavour Silver by 4.8% during the 2nd quarter. Swiss National Bank now owns 246,200 shares of the mining company’s stock worth $508,000 after buying an additional 11,200 shares during the last quarter. Renaissance Technologies LLC raised its position in Endeavour Silver by 18.4% during the 2nd quarter. Renaissance Technologies LLC now owns 6,685,225 shares of the mining company’s stock worth $13,705,000 after buying an additional 1,040,000 shares during the last quarter. Perritt Capital Management Inc. purchased a new position in Endeavour Silver during the 2nd quarter worth approximately $782,000. Finally, Sprott Inc. raised its position in Endeavour Silver by 27.5% during the 2nd quarter. Sprott Inc. now owns 759,100 shares of the mining company’s stock worth $2,045,000 after buying an additional 163,600 shares during the last quarter. 18.58% of the stock is owned by hedge funds and other institutional investors.
Endeavour Silver Company Profile
Endeavour Silver Corp., a mid-tier silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mining properties in Mexico and Chile. The company also explores for gold deposits and precious metals. The company has interests in three producing silver-gold mines in Mexico, including the Guanaceví mine in Durango; the Bolañitos mine in Guanajuato; and the El Cubo mine in Guanajuato.
Read More: Intrinsic Value
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Endeavour Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endeavour Silver and related companies with MarketBeat.com's FREE daily email newsletter.