Endeavour Silver (NYSE:EXK) Shares Down 3.3% Following Analyst Downgrade

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) shares fell 3.3% on Wednesday after HC Wainwright lowered their price target on the stock from $6.25 to $6.00. HC Wainwright currently has a buy rating on the stock. Endeavour Silver traded as low as $4.11 and last traded at $4.13. 473,307 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 5,401,128 shares. The stock had previously closed at $4.27.

EXK has been the subject of several other research reports. Alliance Global Partners upped their price target on shares of Endeavour Silver from $4.00 to $5.25 and gave the company a “buy” rating in a research report on Wednesday, July 10th. BMO Capital Markets initiated coverage on Endeavour Silver in a report on Monday, June 17th. They set an “outperform” rating and a $6.00 price objective on the stock. Finally, CIBC lifted their target price on shares of Endeavour Silver from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.06.

Institutional Investors Weigh In On Endeavour Silver

Several institutional investors and hedge funds have recently bought and sold shares of EXK. MCIA Inc acquired a new stake in shares of Endeavour Silver in the 1st quarter valued at $34,000. Van ECK Associates Corp grew its stake in Endeavour Silver by 12.9% during the first quarter. Van ECK Associates Corp now owns 10,810,119 shares of the mining company’s stock worth $26,052,000 after buying an additional 1,237,440 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Endeavour Silver by 3.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,349,514 shares of the mining company’s stock worth $12,892,000 after buying an additional 188,787 shares in the last quarter. SG Americas Securities LLC raised its position in Endeavour Silver by 61.6% in the 1st quarter. SG Americas Securities LLC now owns 20,603 shares of the mining company’s stock valued at $50,000 after purchasing an additional 7,852 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of Endeavour Silver by 60.1% in the first quarter. Jupiter Asset Management Ltd. now owns 10,781,056 shares of the mining company’s stock valued at $25,972,000 after buying an additional 4,046,065 shares during the last quarter. Institutional investors own 20.06% of the company’s stock.

Endeavour Silver Price Performance

The company’s 50 day moving average price is $3.44 and its 200 day moving average price is $3.44. The firm has a market capitalization of $1.02 billion, a P/E ratio of -213.75 and a beta of 1.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.02 and a quick ratio of 1.65.

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

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.