Endeavour Silver (NYSE:EXK) Shares Gap Up – Here’s Why

Shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped up prior to trading on Friday . The stock had previously closed at $8.62, but opened at $9.01. Endeavour Silver shares last traded at $9.7240, with a volume of 3,475,944 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Endeavour Silver from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Raymond James Financial reiterated an “outperform” rating on shares of Endeavour Silver in a research report on Friday, October 10th. Cibc Captl Mkts raised Endeavour Silver from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. B. Riley boosted their target price on shares of Endeavour Silver from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Zacks Research raised shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $12.67.

Endeavour Silver Price Performance

The stock has a fifty day moving average of $7.95 and a two-hundred day moving average of $6.09. The company has a current ratio of 0.93, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -36.70 and a beta of 1.27.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its quarterly earnings data on Friday, November 7th. The mining company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). Endeavour Silver had a negative return on equity of 0.62% and a negative net margin of 28.49%.The business had revenue of $111.40 million during the quarter, compared to analyst estimates of $162.05 million. As a group, equities research analysts forecast that Endeavour Silver Corporation will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Endeavour Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXK. Quarry LP raised its stake in shares of Endeavour Silver by 2.0% in the third quarter. Quarry LP now owns 74,258 shares of the mining company’s stock worth $582,000 after acquiring an additional 1,490 shares during the last quarter. Aire Advisors LLC lifted its position in shares of Endeavour Silver by 5.2% during the third quarter. Aire Advisors LLC now owns 31,547 shares of the mining company’s stock worth $247,000 after purchasing an additional 1,547 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in shares of Endeavour Silver by 16.6% during the third quarter. Hohimer Wealth Management LLC now owns 14,415 shares of the mining company’s stock valued at $113,000 after purchasing an additional 2,050 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Endeavour Silver by 3.0% in the second quarter. Public Employees Retirement System of Ohio now owns 73,651 shares of the mining company’s stock valued at $362,000 after purchasing an additional 2,129 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in Endeavour Silver by 5.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,256 shares of the mining company’s stock worth $203,000 after purchasing an additional 2,161 shares during the last quarter. Institutional investors and hedge funds 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.