Endeavour Silver (NYSE:EXK) Trading Down 10.9% – Here’s What Happened

Shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) dropped 10.9% during trading on Friday . The company traded as low as $8.33 and last traded at $8.2530. Approximately 3,670,556 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 11,043,591 shares. The stock had previously closed at $9.26.

Analysts Set New Price Targets

EXK has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of Endeavour Silver in a research note on Thursday, May 7th. Zacks Research raised shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research report on Monday, April 20th. Finally, Wall Street Zen raised shares of Endeavour Silver from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Endeavour Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Endeavour Silver Price Performance

The firm’s 50-day moving average price is $9.61 and its two-hundred day moving average price is $10.23. The stock has a market cap of $2.42 billion, a PE ratio of -102.01 and a beta of 1.28. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its quarterly earnings results on Wednesday, May 6th. The mining company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.11. Endeavour Silver had a negative net margin of 3.68% and a positive return on equity of 9.33%. The firm had revenue of $209.70 million during the quarter, compared to analysts’ expectations of $200.41 million. On average, equities analysts expect that Endeavour Silver Corporation will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endeavour Silver

Hedge funds and other institutional investors have recently bought and sold shares of the company. Montrusco Bolton Investments Inc. purchased a new stake in Endeavour Silver during the third quarter valued at approximately $9,514,000. Alps Advisors Inc. lifted its position in Endeavour Silver by 113.9% during the third quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company’s stock valued at $34,965,000 after acquiring an additional 2,374,365 shares during the last quarter. Caprock Group LLC purchased a new stake in Endeavour Silver during the third quarter valued at approximately $1,098,000. Tudor Investment Corp ET AL purchased a new stake in Endeavour Silver during the third quarter valued at approximately $14,146,000. Finally, Baader Bank Aktiengesellschaft lifted its position in Endeavour Silver by 369.0% during the third quarter. Baader Bank Aktiengesellschaft now owns 108,520 shares of the mining company’s stock valued at $851,000 after acquiring an additional 85,383 shares during the last quarter. Hedge funds and other 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.