Endeavour Silver (NYSE:EXK) Sets New 12-Month High – Here’s Why

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) hit a new 52-week high during trading on Monday . The company traded as high as $10.46 and last traded at $10.20, with a volume of 7007553 shares trading hands. The stock had previously closed at $9.02.

Analysts Set New Price Targets

Several analysts have recently commented on EXK shares. CIBC upgraded shares of Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 price target on the stock in a research report on Monday, November 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of Endeavour Silver in a research note on Tuesday, November 25th. Natl Bk Canada raised Endeavour Silver to a “strong-buy” rating in a research report on Tuesday, December 9th. Raymond James Financial reissued an “outperform” rating on shares of Endeavour Silver in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $12.67.

Endeavour Silver Stock Performance

The company has a market cap of $2.96 billion, a price-to-earnings ratio of -29.93 and a beta of 1.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.79. The stock’s fifty day simple moving average is $8.60 and its two-hundred day simple moving average is $7.09.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its quarterly 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 firm had revenue of $111.40 million for the quarter, compared to analysts’ expectations of $162.05 million. Endeavour Silver had a negative net margin of 31.18% and a negative return on equity of 1.34%. Equities research analysts anticipate that Endeavour Silver Corporation will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Endeavour Silver

Several institutional investors have recently bought and sold shares of EXK. Vanguard Group Inc. raised its stake in shares of Endeavour Silver by 1,631.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company’s stock valued at $33,720,000 after acquiring an additional 4,056,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Endeavour Silver by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after purchasing an additional 3,005,563 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Endeavour Silver during the 3rd quarter worth $20,225,000. Alps Advisors Inc. increased its holdings in Endeavour Silver by 113.9% in the 3rd quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company’s stock valued at $34,965,000 after purchasing an additional 2,374,365 shares in the last quarter. Finally, Condire Management LP raised its position in Endeavour Silver by 200.0% in the third quarter. Condire Management LP now owns 3,000,000 shares of the mining company’s stock valued at $23,520,000 after purchasing an additional 2,000,000 shares during the period. 20.06% of the stock is currently owned by hedge funds and other 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.