Endeavour Silver (NYSE:EXK) Shares Gap Up – Still a Buy?

Shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) 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 Upgrades and Downgrades

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

Endeavour Silver Stock Performance

The company has a current ratio of 1.97, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.65 billion, a PE ratio of 42.69 and a beta of 1.35. The firm’s 50-day simple moving average is $8.31 and its 200-day simple moving average is $9.89.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $85,474,000 after buying an additional 3,005,563 shares during the period. Van ECK Associates Corp raised its holdings in shares of Endeavour Silver by 2.7% in the fourth quarter. Van ECK Associates Corp now owns 9,794,705 shares of the mining company’s stock valued at $92,071,000 after acquiring an additional 261,196 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Endeavour Silver by 83.5% in the fourth quarter. Vanguard Group Inc. now owns 7,899,506 shares of the mining company’s stock valued at $74,303,000 after acquiring an additional 3,594,123 shares in the last quarter. Condire Management LP lifted its stake in Endeavour Silver by 50.1% in the fourth quarter. Condire Management LP now owns 4,503,543 shares of the mining company’s stock worth $42,333,000 after acquiring an additional 1,503,543 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Endeavour Silver by 42.8% in the fourth quarter. BNP Paribas Financial Markets now owns 3,039,797 shares of the mining company’s stock worth $28,574,000 after acquiring an additional 910,378 shares during the period. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

About Endeavour Silver

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.