Endeavour Silver (NYSE:EXK) Shares Down 3.3% After Analyst Downgrade

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) shares fell 3.3% on Wednesday after HC Wainwright lowered their price target on the stock from $6.25 to $6.00. HC Wainwright currently has a buy rating on the stock. Endeavour Silver traded as low as $4.11 and last traded at $4.13. 473,307 shares traded hands during trading, a decline of 91% from the average session volume of 5,401,128 shares. The stock had previously closed at $4.27.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets assumed coverage on shares of Endeavour Silver in a research note on Monday, June 17th. They set an “outperform” rating and a $6.00 price objective on the stock. Alliance Global Partners raised their price target on shares of Endeavour Silver from $4.00 to $5.25 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, CIBC upped their price objective on shares of Endeavour Silver from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Endeavour Silver currently has a consensus rating of “Moderate Buy” and an average target price of $6.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EXK. American Century Companies Inc. purchased a new stake in Endeavour Silver in the 2nd quarter worth $589,000. National Bank of Canada FI raised its position in shares of Endeavour Silver by 5,735.0% during 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. lifted its stake in Endeavour Silver by 60.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 10,781,056 shares of the mining company’s stock valued at $25,972,000 after buying an additional 4,046,065 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Endeavour Silver by 3.7% in the 1st 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 during the last quarter. Finally, Van ECK Associates Corp increased its stake in Endeavour Silver by 126.3% during the 2nd quarter. Van ECK Associates Corp now owns 24,467,240 shares of the mining company’s stock worth $86,125,000 after buying an additional 13,657,121 shares in the last quarter. Hedge funds and other institutional investors own 20.06% of the company’s stock.

Endeavour Silver Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.02 and a quick ratio of 1.65. The business has a fifty day simple moving average of $3.43 and a 200 day simple moving average of $3.46. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -217.50 and a beta of 1.71.

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