Endeavour Silver (NYSE:EXK) Shares Gap Up After Earnings Beat

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) shares gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $3.64, but opened at $3.80. Endeavour Silver shares last traded at $4.21, with a volume of 2,765,697 shares traded.

The mining company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Endeavour Silver had a negative net margin of 13.04% and a positive return on equity of 0.97%. The business had revenue of $42.20 million for the quarter, compared to analyst estimates of $69.90 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com upgraded Endeavour Silver to a “sell” rating in a research note on Friday, February 28th. HC Wainwright cut their target price on Endeavour Silver from $7.25 to $7.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Ventum Cap Mkts raised Endeavour Silver to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, TD Securities started coverage on Endeavour Silver in a report on Friday, November 29th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.56.

Hedge Funds Weigh In On Endeavour Silver

Several institutional investors and hedge funds have recently bought and sold shares of EXK. Quest Partners LLC purchased a new stake in shares of Endeavour Silver during the 3rd quarter valued at $964,000. Quantbot Technologies LP purchased a new position in Endeavour Silver in the third quarter valued at approximately $100,000. Walleye Capital LLC acquired a new position in Endeavour Silver during the third quarter valued at approximately $111,000. National Bank of Canada FI grew its stake in Endeavour Silver by 3.4% during the third quarter. National Bank of Canada FI now owns 453,869 shares of the mining company’s stock worth $1,788,000 after buying an additional 15,075 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Endeavour Silver in the third quarter worth $261,000. Institutional investors and hedge funds own 20.06% of the company’s stock.

Endeavour Silver Stock Performance

The stock’s 50 day moving average price is $3.82 and its 200 day moving average price is $4.02. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.19 billion, a PE ratio of -34.81 and a beta of 1.55.

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.