Endeavour Silver (NYSE:EXK) Shares Gap Up Following Earnings Beat

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $3.64, but opened at $3.80. Endeavour Silver shares last traded at $4.21, with a volume of 2,765,697 shares trading hands.

The mining company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. Endeavour Silver had a negative net margin of 13.04% and a positive return on equity of 0.97%. The firm had revenue of $42.20 million during the quarter, compared to the consensus estimate of $69.90 million.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Ventum Cap Mkts raised Endeavour Silver to a “strong-buy” rating in a research note on Wednesday, November 13th. HC Wainwright raised their price target on shares of Endeavour Silver from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised shares of Endeavour Silver to a “sell” rating in a research note on Friday, February 28th. Alliance Global Partners reissued a “buy” rating on shares of Endeavour Silver in a research note on Wednesday. Finally, TD Securities raised shares of Endeavour Silver to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of Endeavour Silver by 52.9% during the fourth quarter. Tidal Investments LLC now owns 11,178,812 shares of the mining company’s stock valued at $40,914,000 after purchasing an additional 3,869,920 shares during the period. Jupiter Asset Management Ltd. grew its stake in Endeavour Silver by 0.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 10,792,069 shares of the mining company’s stock valued at $39,545,000 after acquiring an additional 99,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Endeavour Silver by 122.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,515,836 shares of the mining company’s stock valued at $23,858,000 after acquiring an additional 3,581,936 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Endeavour Silver by 5.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,941,933 shares of the mining company’s stock worth $21,748,000 after purchasing an additional 288,166 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Endeavour Silver by 268.9% in the 4th quarter. American Century Companies Inc. now owns 2,657,573 shares of the mining company’s stock worth $9,728,000 after purchasing an additional 1,937,150 shares in the last quarter. 20.06% of the stock is owned by institutional investors.

Endeavour Silver Trading Up 2.7 %

The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average is $3.84 and its 200-day moving average is $4.02. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -35.70 and a beta of 1.55.

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.