Endeavour Silver (NYSE:EXK) Hits New 1-Year High on Analyst Upgrade

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) hit a new 52-week high during trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $11.52 and last traded at $11.3450, with a volume of 3205099 shares traded. The stock had previously closed at $10.62.

EXK has been the subject of a number of other research reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Endeavour Silver in a research report on Friday. CIBC upgraded Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 target price for the company in a report on Monday, November 3rd. Industrial Alliance Securities set a $11.00 price objective on shares of Endeavour Silver in a research report on Friday. B. Riley raised their target price on shares of Endeavour Silver from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Natl Bk Canada upgraded shares of Endeavour Silver to a “strong-buy” rating in a research report on Tuesday, December 9th. Five research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Endeavour Silver presently has a consensus rating of “Buy” and an average target price of $13.88.

Hedge Funds Weigh In On Endeavour Silver

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of Endeavour Silver by 13.3% in the 1st quarter. Millennium Management LLC now owns 2,455,127 shares of the mining company’s stock worth $10,483,000 after purchasing an additional 289,096 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Endeavour Silver in the first quarter worth $100,000. Goldman Sachs Group Inc. boosted its holdings in Endeavour Silver by 133.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,309,093 shares of the mining company’s stock worth $5,590,000 after acquiring an additional 747,556 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Endeavour Silver by 162.6% in the first 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 acquiring an additional 326,508 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Endeavour Silver during the second quarter valued at $114,000. Institutional investors own 20.06% of the company’s stock.

Endeavour Silver Trading Up 0.1%

The stock has a market cap of $3.30 billion, a PE ratio of -32.87 and a beta of 1.23. The firm has a 50-day moving average price of $8.94 and a 200-day moving average price of $7.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.79.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its quarterly earnings data on Friday, November 7th. The mining company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The firm had revenue of $111.40 million for the quarter, compared to the consensus estimate of $162.05 million. Endeavour Silver had a negative net margin of 31.18% and a negative return on equity of 1.34%. As a group, equities analysts anticipate that Endeavour Silver Corporation will post -0.07 EPS for the current fiscal year.

About Endeavour Silver

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.