Endeavour Silver (NYSE:EXK) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Endeavour Silver (NYSE:EXK) (TSE:EDR) released its earnings results on Friday. The mining company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06), Zacks reports. The company had revenue of $111.40 million during the quarter, compared to analyst estimates of $162.05 million. Endeavour Silver had a negative return on equity of 0.62% and a negative net margin of 28.49%.

Endeavour Silver Stock Performance

EXK traded down $0.11 during midday trading on Friday, hitting $7.21. 11,741,579 shares of the company were exchanged, compared to its average volume of 12,596,199. Endeavour Silver has a 1-year low of $2.95 and a 1-year high of $10.37. The company has a current ratio of 0.93, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -26.71 and a beta of 1.27. The company’s 50 day simple moving average is $7.49 and its 200 day simple moving average is $5.66.

Institutional Trading of Endeavour Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXK. Millennium Management LLC boosted its stake in shares of Endeavour Silver by 13.3% during the 1st quarter. Millennium Management LLC now owns 2,455,127 shares of the mining company’s stock worth $10,483,000 after acquiring an additional 289,096 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Endeavour Silver in the 1st quarter valued at about $100,000. Goldman Sachs Group Inc. increased its stake in shares of Endeavour Silver by 133.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,309,093 shares of the mining company’s stock valued at $5,590,000 after purchasing an additional 747,556 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Endeavour Silver by 162.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 527,300 shares of the mining company’s stock worth $2,252,000 after purchasing an additional 326,508 shares during the period. Finally, Geode Capital Management LLC boosted its position in Endeavour Silver by 3.8% during the second quarter. Geode Capital Management LLC now owns 144,333 shares of the mining company’s stock worth $714,000 after purchasing an additional 5,303 shares in the last quarter. Institutional investors and hedge funds own 20.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EXK. Zacks Research raised shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. CIBC raised Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 target price on the stock in a research report on Monday. Wall Street Zen raised Endeavour Silver from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. National Bankshares reiterated an “outperform” rating on shares of Endeavour Silver in a research note on Wednesday, July 16th. Finally, HC Wainwright increased their price objective on Endeavour Silver from $9.75 to $11.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $13.50.

About Endeavour Silver

Endeavour Silver Corp., a silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Chile and the United States. It explores for gold and silver deposits, and precious metals. The company was formerly known as Endeavour Gold Corp.