Endeavour Silver (NYSE:EXK) Shares Gap Down on Disappointing Earnings

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s share price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $7.32, but opened at $6.70. Endeavour Silver shares last traded at $7.1870, with a volume of 2,677,201 shares trading hands.

The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). Endeavour Silver had a negative net margin of 28.49% and a negative return on equity of 0.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EXK shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Endeavour Silver in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Endeavour Silver from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. CIBC raised Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 target price on the stock in a research report on Monday. HC Wainwright raised their price objective on shares of Endeavour Silver from $9.75 to $11.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Zacks Research raised shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $13.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in Endeavour Silver during the 2nd quarter worth approximately $29,000. Total Investment Management Inc. acquired a new stake in Endeavour Silver in the 2nd quarter valued at $41,000. Hohimer Wealth Management LLC raised its holdings in shares of Endeavour Silver by 28.9% in the 1st quarter. Hohimer Wealth Management LLC now owns 13,015 shares of the mining company’s stock worth $56,000 after acquiring an additional 2,915 shares during the last quarter. Centric Wealth Management bought a new position in shares of Endeavour Silver in the second quarter valued at approximately $60,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Endeavour Silver by 46,309.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 14,387 shares of the mining company’s stock worth $61,000 after acquiring an additional 14,356 shares during the last quarter. 20.06% of the stock is owned by institutional investors.

Endeavour Silver Stock Performance

The company’s 50 day simple moving average is $7.49 and its 200 day simple moving average is $5.66. The stock has a market cap of $2.07 billion, a PE ratio of -26.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.93.

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.