Endeavour Silver (NYSE:EXK) Shares Gap Up – Should You Buy?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.33, but opened at $8.96. Endeavour Silver shares last traded at $8.90, with a volume of 1,918,681 shares trading hands.

Analyst Ratings Changes

Several research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Endeavour Silver in a research report on Thursday, July 9th. Wall Street Zen downgraded shares of Endeavour Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. B. Riley Financial assumed coverage on shares of Endeavour Silver in a research report on Monday. They issued a “buy” rating and a $14.00 price target for the company. Zacks Research upgraded shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.50.

Endeavour Silver Price Performance

The company’s 50 day moving average price is $8.29 and its 200 day moving average price is $9.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.65 and a current ratio of 1.97. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 44.50 and a beta of 1.35.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its earnings results on Wednesday, July 29th. The mining company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. The business had revenue of $212.10 million during the quarter, compared to analysts’ expectations of $210.79 million. On average, equities research analysts predict that Endeavour Silver Corporation will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EXK. BlackRock Inc. bought a new stake in Endeavour Silver during the 2nd quarter worth approximately $2,224,000. Deutsche Bank AG acquired a new position in Endeavour Silver in the second quarter worth $10,192,000. N.E.W. Advisory Services LLC bought a new stake in shares of Endeavour Silver during the second quarter worth $29,000. Alberta Investment Management Corp bought a new stake in shares of Endeavour Silver during the second quarter worth $657,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Endeavour Silver in the second quarter valued at $85,000. 20.06% of the stock is owned by institutional investors and hedge funds.

Endeavour Silver Company Profile

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.