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

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped down prior to trading on Monday . The stock had previously closed at $10.08, but opened at $9.50. Endeavour Silver shares last traded at $9.5140, with a volume of 3,179,202 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EXK shares. Raymond James Financial reissued an “outperform” rating on shares of Endeavour Silver in a report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Endeavour Silver in a research report on Wednesday, October 8th. CIBC upgraded Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 target price for the company in a research report on Monday, November 3rd. Zacks Research lowered Endeavour Silver from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Finally, Cibc Captl Mkts upgraded Endeavour Silver from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Five research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Endeavour Silver has a consensus rating of “Buy” and an average target price of $12.67.

Endeavour Silver Stock Performance

The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -28.35 and a beta of 1.32. The stock has a 50 day moving average price of $8.49 and a two-hundred day moving average price of $6.93.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its earnings results on Friday, November 7th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company had revenue of $111.40 million for the quarter, compared to the consensus estimate of $162.05 million. Endeavour Silver had a negative return on equity of 1.34% and a negative net margin of 31.18%. Analysts predict that Endeavour Silver Corporation will post -0.07 EPS for the current year.

Hedge Funds Weigh In On Endeavour Silver

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Endeavour Silver by 38.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock valued at $85,474,000 after buying an additional 3,005,563 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in Endeavour Silver by 2.2% during the second quarter. Jupiter Asset Management Ltd. now owns 10,557,111 shares of the mining company’s stock worth $51,916,000 after acquiring an additional 223,457 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Endeavour Silver by 13.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,454,734 shares of the mining company’s stock valued at $26,895,000 after acquiring an additional 643,641 shares during the period. Alps Advisors Inc. increased its holdings in shares of Endeavour Silver by 113.9% in the third quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company’s stock worth $34,965,000 after acquiring an additional 2,374,365 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Endeavour Silver by 19.9% during the second quarter. TD Asset Management Inc now owns 4,458,979 shares of the mining company’s stock worth $21,927,000 after purchasing an additional 740,046 shares during the period. 20.06% of the stock is owned by institutional investors.

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.