Zacks Investment Research Downgrades Endeavour Silver (EXK) to Sell

Endeavour Silver (NYSE:EXK) (TSE:EDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “ENDEAVOUR SILVER CORP. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour’s two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company’s acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide. Endeavour stands out from other silver mining companies for the strong organic growth potential of its core assets, its high silver grades and leverage, the substantial exploration upside of its Mexican mining properties, and the significant under-utilized capacities of the Guanacevi and Bolanitos plants. “

Other equities analysts have also recently issued reports about the stock. Noble Financial restated a “buy” rating on shares of Endeavour Silver in a research report on Wednesday, October 11th. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Endeavour Silver in a research report on Wednesday, October 11th. BMO Capital Markets started coverage on shares of Endeavour Silver in a research report on Friday, November 17th. They issued a “market perform” rating for the company. Finally, ValuEngine cut shares of Endeavour Silver from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.94.

Shares of Endeavour Silver (EXK) traded up $0.10 during midday trading on Wednesday, reaching $2.45. 1,470,727 shares of the company’s stock traded hands, compared to its average volume of 1,524,729. Endeavour Silver has a 1 year low of $1.94 and a 1 year high of $4.90. The firm has a market cap of $313.50, a PE ratio of 122.50 and a beta of -0.15.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Endeavour Silver by 11.2% during the third quarter. Van ECK Associates Corp now owns 9,370,190 shares of the mining company’s stock worth $22,301,000 after buying an additional 944,317 shares during the period. Global X MANAGEMENT CO LLC increased its position in shares of Endeavour Silver by 8.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 1,617,297 shares of the mining company’s stock worth $3,849,000 after buying an additional 122,180 shares during the period. Ninepoint Partners LP acquired a new stake in shares of Endeavour Silver during the third quarter worth $1,924,000. ETF Managers Group LLC acquired a new stake in shares of Endeavour Silver during the second quarter worth $2,361,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Endeavour Silver by 666.6% during the second quarter. Goldman Sachs Group Inc. now owns 335,238 shares of the mining company’s stock worth $1,023,000 after buying an additional 291,507 shares during the period. Institutional investors own 23.24% of the company’s stock.

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Endeavour Silver Company Profile

Endeavour Silver Corp. is engaged in silver mining in Mexico, and related activities, including property acquisition, exploration, development, mineral extraction, processing, refining and reclamation. The Company is engaged in exploration activities in Chile. The Company’s operating mining segments include Guanacevi, Bolanitos and El Cubo, which are located in Mexico, as well as Exploration and Corporate segments.

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