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

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.49, but opened at $5.25. Endeavour Silver shares last traded at $5.36, with a volume of 1,096,298 shares.

Wall Street Analysts Forecast Growth

EXK has been the topic of a number of analyst reports. Alliance Global Partners boosted their price objective on Endeavour Silver from $5.25 to $6.25 and gave the company a “buy” rating in a research note on Tuesday. CIBC raised their price objective on shares of Endeavour Silver from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, HC Wainwright decreased their target price on shares of Endeavour Silver from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.31.

Endeavour Silver Price Performance

The firm has a market cap of $1.34 billion, a P/E ratio of -273.00 and a beta of 1.71. The business has a 50-day simple moving average of $3.80 and a 200 day simple moving average of $3.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.65 and a current ratio of 2.02.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Endeavour Silver had a negative net margin of 6.53% and a negative return on equity of 1.25%. The company had revenue of $58.30 million during the quarter, compared to the consensus estimate of $62.01 million. During the same quarter last year, the firm earned $0.01 EPS. The business’s revenue was up 16.6% on a year-over-year basis. On average, analysts anticipate that Endeavour Silver Corp. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hohimer Wealth Management LLC purchased a new position in Endeavour Silver during the second quarter valued at $42,000. Baader Bank Aktiengesellschaft purchased a new stake in Endeavour Silver in the second quarter worth about $42,000. SG Americas Securities LLC increased its stake in shares of Endeavour Silver by 61.6% during the first quarter. SG Americas Securities LLC now owns 20,603 shares of the mining company’s stock valued at $50,000 after purchasing an additional 7,852 shares in the last quarter. Oxbow Advisors LLC purchased a new position in shares of Endeavour Silver during the second quarter valued at approximately $51,000. Finally, Oak Family Advisors LLC bought a new stake in shares of Endeavour Silver in the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.

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.