Endeavour Silver (NYSE:EXK) Shares Gap Up to $3.94

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.94, but opened at $4.03. Endeavour Silver shares last traded at $4.09, with a volume of 959,623 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. HC Wainwright decreased their price objective on Endeavour Silver from $6.50 to $6.25 and set a “buy” rating for the company in a report on Friday, August 2nd. BMO Capital Markets started coverage on shares of Endeavour Silver in a research note on Monday, June 17th. They set an “outperform” rating and a $6.00 price target for the company. CIBC boosted 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. Finally, Alliance Global Partners increased their target price on shares of Endeavour Silver from $4.00 to $5.25 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.13.

Endeavour Silver Price Performance

The stock has a market cap of $968.71 million, a price-to-earnings ratio of -197.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.65 and a current ratio of 2.02. The company has a 50-day simple moving average of $3.46 and a two-hundred day simple moving average of $3.37.

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

Institutional Investors Weigh In On Endeavour Silver

Several hedge funds have recently bought and sold shares of EXK. Van ECK Associates Corp raised its stake in Endeavour Silver by 126.3% in the second quarter. Van ECK Associates Corp now owns 24,467,240 shares of the mining company’s stock valued at $86,125,000 after buying an additional 13,657,121 shares during the period. Tidal Investments LLC acquired a new stake in Endeavour Silver during the 1st quarter valued at $19,008,000. Jupiter Asset Management Ltd. lifted its holdings in Endeavour Silver by 60.1% during 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 purchasing an additional 4,046,065 shares during the last quarter. TD Asset Management Inc bought a new position in Endeavour Silver during the second quarter worth $9,452,000. Finally, National Bank of Canada FI increased its holdings in shares of Endeavour Silver by 5,735.0% in the second quarter. National Bank of Canada FI now owns 438,794 shares of the mining company’s stock valued at $1,522,000 after purchasing an additional 431,274 shares during the last quarter. 20.06% of the stock is currently 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.