Endeavour Silver Corp. (NYSE:EXK) Sees Large Increase in Short Interest

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 13,620,000 shares, a growth of 8.1% from the August 31st total of 12,600,000 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily volume of 5,130,000 shares, the short-interest ratio is currently 2.7 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI grew its holdings in shares of Endeavour Silver by 5,735.0% in the 2nd quarter. National Bank of Canada FI now owns 438,794 shares of the mining company’s stock worth $1,522,000 after purchasing an additional 431,274 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Endeavour Silver by 60.1% during the first quarter. Jupiter Asset Management Ltd. now owns 10,781,056 shares of the mining company’s stock worth $25,972,000 after buying an additional 4,046,065 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Endeavour Silver by 3.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,349,514 shares of the mining company’s stock worth $12,892,000 after buying an additional 188,787 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Endeavour Silver by 126.3% in the second quarter. Van ECK Associates Corp now owns 24,467,240 shares of the mining company’s stock valued at $86,125,000 after acquiring an additional 13,657,121 shares during the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Endeavour Silver in the 2nd quarter worth approximately $9,452,000. 20.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EXK shares. BMO Capital Markets began coverage on shares of Endeavour Silver in a research report on Monday, June 17th. They set an “outperform” rating and a $6.00 price objective for the company. Alliance Global Partners upped their price target on Endeavour Silver from $4.00 to $5.25 and gave the company a “buy” rating in a report on Wednesday, July 10th. HC Wainwright reduced their price objective on Endeavour Silver from $6.50 to $6.25 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, CIBC boosted their price objective on Endeavour Silver from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Endeavour Silver presently has a consensus rating of “Moderate Buy” and an average price target of $6.13.

Endeavour Silver Stock Performance

NYSE:EXK opened at $4.04 on Wednesday. The firm has a market capitalization of $993.30 million, a PE ratio of -200.50 and a beta of 1.70. The company has a quick ratio of 1.65, a current ratio of 2.02 and a debt-to-equity ratio of 0.14. Endeavour Silver has a 12-month low of $1.42 and a 12-month high of $5.02. The firm has a 50-day moving average price of $3.46 and a 200 day moving average price of $3.37.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its earnings results on Thursday, August 1st. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $58.30 million during the quarter, compared to analyst estimates of $62.01 million. Endeavour Silver had a negative return on equity of 1.25% and a negative net margin of 6.53%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. Research analysts anticipate that Endeavour Silver will post 0.04 earnings per share for the current fiscal year.

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.