Endeavour Silver (NYSE:EXK) Shares Down 6.9% – Here’s What Happened

Shares of Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) fell 6.9% during trading on Wednesday . The stock traded as low as $3.63 and last traded at $3.64. 1,665,749 shares traded hands during trading, a decline of 72% from the average session volume of 5,900,474 shares. The stock had previously closed at $3.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EXK shares. HC Wainwright restated a “buy” rating and issued a $7.25 target price on shares of Endeavour Silver in a research report on Wednesday, December 18th. Alliance Global Partners boosted their price objective on shares of Endeavour Silver from $5.25 to $6.25 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Endeavour Silver to a “sell” rating in a research note on Tuesday, December 24th. TD Securities began coverage on shares of Endeavour Silver in a report on Friday, November 29th. They issued a “buy” rating on the stock. Finally, Ventum Cap Mkts upgraded shares of Endeavour Silver to a “strong-buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.63.

Endeavour Silver Stock Performance

The stock has a 50-day moving average price of $4.24 and a 200 day moving average price of $4.01. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $907.63 million, a price-to-earnings ratio of -26.62 and a beta of 1.64.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Endeavour Silver had a negative net margin of 13.04% and a positive return on equity of 0.97%. The company had revenue of $53.40 million during the quarter, compared to analysts’ expectations of $54.91 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts forecast that Endeavour Silver Corp. will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Endeavour Silver

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of Endeavour Silver by 139.6% during the 3rd quarter. Blue Trust Inc. now owns 14,400 shares of the mining company’s stock worth $57,000 after buying an additional 8,389 shares during the last quarter. Virtu Financial LLC acquired a new position in Endeavour Silver in the third quarter valued at $80,000. Rathbones Group PLC grew its holdings in shares of Endeavour Silver by 58.8% during the second quarter. Rathbones Group PLC now owns 22,950 shares of the mining company’s stock worth $81,000 after purchasing an additional 8,500 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Endeavour Silver during the third quarter worth about $100,000. Finally, Walleye Capital LLC purchased a new position in Endeavour Silver during the 3rd quarter worth approximately $111,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.

Endeavour Silver Company Profile

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.