Endeavour Silver (NYSE:EXK) Shares Down 9.2% – Here’s What Happened

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s stock price was down 9.2% during trading on Friday . The stock traded as low as $9.77 and last traded at $9.8020. Approximately 4,694,361 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 11,831,343 shares. The stock had previously closed at $10.79.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EXK shares. Zacks Research raised shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Endeavour Silver from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Endeavour Silver in a research report on Monday, January 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Endeavour Silver in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Endeavour Silver Stock Performance

The company has a market capitalization of $2.94 billion, a P/E ratio of -124.43 and a beta of 1.26. The company has a current ratio of 1.70, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $9.86 and its 200-day moving average is $10.06.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its quarterly earnings data on Wednesday, May 6th. The mining company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.11. The business had revenue of $209.70 million during the quarter, compared to analyst estimates of $200.41 million. Endeavour Silver had a negative net margin of 3.68% and a positive return on equity of 9.33%. Equities analysts anticipate that Endeavour Silver Corporation will post 0.63 EPS for the current fiscal year.

Institutional Trading of Endeavour Silver

A number of institutional investors and hedge funds have recently bought and sold shares of EXK. Millennium Management LLC increased its stake in Endeavour Silver by 13.3% during the 1st quarter. Millennium Management LLC now owns 2,455,127 shares of the mining company’s stock valued at $10,483,000 after purchasing an additional 289,096 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Endeavour Silver in the first quarter worth approximately $100,000. Goldman Sachs Group Inc. grew its stake in shares of Endeavour Silver by 133.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,309,093 shares of the mining company’s stock worth $5,590,000 after acquiring an additional 747,556 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Endeavour Silver by 162.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 527,300 shares of the mining company’s stock worth $2,252,000 after acquiring an additional 326,508 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Endeavour Silver by 3.8% in the second quarter. Geode Capital Management LLC now owns 144,333 shares of the mining company’s stock worth $714,000 after acquiring an additional 5,303 shares during the period. 20.06% of the stock is currently owned by institutional investors.

Endeavour Silver Company Profile

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.