Endeavour Silver (NYSE:EXK) Shares Gap Down – Here’s What Happened

Shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped down prior to trading on Thursday . The stock had previously closed at $9.60, but opened at $8.82. Endeavour Silver shares last traded at $9.3630, with a volume of 1,074,393 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EXK shares. Zacks Research lowered Endeavour Silver from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Endeavour Silver in a research report on Wednesday, February 4th. Raymond James Financial reissued an “outperform” rating on shares of Endeavour Silver in a report on Wednesday, January 14th. National Bank Financial upgraded shares of Endeavour Silver to a “strong-buy” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Endeavour Silver currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Endeavour Silver Price Performance

The company has a market capitalization of $2.84 billion, a PE ratio of -22.93 and a beta of 1.39. The company has a quick ratio of 1.30, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average is $11.39 and its 200-day moving average is $9.65.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its quarterly earnings results on Friday, February 27th. The mining company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Endeavour Silver had a negative net margin of 27.52% and a negative return on equity of 1.29%. The firm had revenue of $172.60 million for the quarter, compared to analysts’ expectations of $227.99 million. Equities analysts predict that Endeavour Silver Corporation will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Endeavour Silver

A number of hedge funds have recently bought and sold shares of EXK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Endeavour Silver by 38.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after buying an additional 3,005,563 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Endeavour Silver by 2.7% during the fourth quarter. Van ECK Associates Corp now owns 9,794,705 shares of the mining company’s stock worth $92,071,000 after acquiring an additional 261,196 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Endeavour Silver by 83.5% during the fourth quarter. Vanguard Group Inc. now owns 7,899,506 shares of the mining company’s stock worth $74,303,000 after acquiring an additional 3,594,123 shares in the last quarter. Condire Management LP lifted its holdings in shares of Endeavour Silver by 50.1% in the 4th quarter. Condire Management LP now owns 4,503,543 shares of the mining company’s stock worth $42,333,000 after acquiring an additional 1,503,543 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Endeavour Silver by 113.9% in the 3rd quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company’s stock worth $34,965,000 after acquiring an additional 2,374,365 shares during the last quarter. Institutional investors own 20.06% of the company’s stock.

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.