Endeavour Silver (NYSE:EXK) Shares Gap Down After Earnings Miss

Endeavour Silver Corp (NYSE:EXK) (TSE:EDR)’s stock price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $2.20, but opened at $2.26. Endeavour Silver shares last traded at $2.28, with a volume of 37,037 shares changing hands.

The mining company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Endeavour Silver had a negative return on equity of 21.18% and a negative net margin of 25.06%. The company had revenue of $28.59 million for the quarter, compared to analyst estimates of $28.00 million.

Several research analysts have weighed in on EXK shares. Zacks Investment Research lowered shares of Endeavour Silver from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Noble Financial upgraded shares of Endeavour Silver to a “buy” rating and set a $3.00 target price on the stock in a research report on Monday, September 23rd. HC Wainwright upped their target price on shares of Endeavour Silver from $3.00 to $4.25 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, ValuEngine upgraded shares of Endeavour Silver from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $3.00.

A number of institutional investors and hedge funds have recently modified their holdings of EXK. Advisor Group Inc. grew its position in Endeavour Silver by 16.2% during the second 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 period. Swiss National Bank grew its position in Endeavour Silver by 4.8% during the second 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 period. Renaissance Technologies LLC grew its position in Endeavour Silver by 18.4% during the second 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 period. Perritt Capital Management Inc. acquired a new position in Endeavour Silver during the second quarter worth about $782,000. Finally, Sprott Inc. grew its position in shares of Endeavour Silver by 27.5% in the second quarter. Sprott Inc. now owns 759,100 shares of the mining company’s stock valued at $2,045,000 after purchasing an additional 163,600 shares during the last quarter. Institutional investors own 18.43% of the company’s stock.

The firm’s 50-day moving average price is $2.37 and its 200 day moving average price is $2.23. The firm has a market capitalization of $316.20 million, a price-to-earnings ratio of -25.44 and a beta of 0.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.28 and a quick ratio of 2.54.

Endeavour Silver Company Profile (NYSE:EXK)

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.

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