Endeavour Silver (NYSE:EXK) Shares Gap Up – Here’s What Happened

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.15, but opened at $3.33. Endeavour Silver shares last traded at $3.30, with a volume of 1,339,452 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on EXK. Alliance Global Partners reaffirmed a “buy” rating on shares of Endeavour Silver in a research note on Wednesday, March 12th. StockNews.com raised shares of Endeavour Silver to a “sell” rating in a research note on Friday, February 28th. Raymond James started coverage on shares of Endeavour Silver in a research note on Friday, March 21st. They set an “outperform” rating for the company. HC Wainwright increased their target price on Endeavour Silver from $7.00 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, TD Securities raised Endeavour Silver to a “strong-buy” rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

Endeavour Silver Price Performance

The firm has a market cap of $873.80 million, a price-to-earnings ratio of -25.65 and a beta of 1.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.07 and a current ratio of 1.39. The company’s fifty day moving average is $4.07 and its two-hundred day moving average is $4.16.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its earnings results on Tuesday, March 11th. The mining company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $42.20 million for the quarter, compared to the consensus estimate of $69.90 million. Endeavour Silver had a positive return on equity of 0.97% and a negative net margin of 13.04%. Equities research analysts forecast that Endeavour Silver Corp. will post -0.07 EPS for the current year.

Institutional Investors Weigh In On Endeavour Silver

A number of large investors have recently added to or reduced their stakes in EXK. Mackenzie Financial Corp grew its stake in shares of Endeavour Silver by 995.2% during the fourth quarter. Mackenzie Financial Corp now owns 1,180,945 shares of the mining company’s stock valued at $4,325,000 after acquiring an additional 1,073,114 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Endeavour Silver in the fourth quarter valued at about $543,000. Vident Advisory LLC grew its stake in Endeavour Silver by 2.8% during the 4th quarter. Vident Advisory LLC now owns 235,043 shares of the mining company’s stock valued at $860,000 after purchasing an additional 6,441 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Endeavour Silver by 26.2% during the 4th quarter. Two Sigma Advisers LP now owns 209,100 shares of the mining company’s stock worth $765,000 after purchasing an additional 43,400 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Endeavour Silver by 88.4% during the 4th quarter. Two Sigma Investments LP now owns 727,762 shares of the mining company’s stock valued at $2,664,000 after buying an additional 341,468 shares during the last quarter. 20.06% of the stock is owned by institutional investors and hedge funds.

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.