Endeavour Silver (NYSE:EXK) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Endeavour Silver (NYSE:EXK) (TSE:EDR) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other research analysts also recently commented on EXK. CIBC increased their price objective on Endeavour Silver from $7.25 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. National Bank Financial raised Endeavour Silver to a “strong-buy” rating in a research note on Thursday, June 12th. HC Wainwright increased their price objective on Endeavour Silver from $7.25 to $8.75 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Wall Street Zen raised Endeavour Silver from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, National Bankshares reissued an “outperform” rating on shares of Endeavour Silver in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Endeavour Silver presently has an average rating of “Buy” and an average target price of $8.33.

Endeavour Silver Trading Up 3.0%

Shares of NYSE:EXK opened at $7.63 on Tuesday. Endeavour Silver has a 1 year low of $2.95 and a 1 year high of $8.21. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -28.24 and a beta of 1.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.93 and a quick ratio of 0.65. The business’s 50 day moving average price is $5.92 and its 200-day moving average price is $4.82.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its earnings results on Wednesday, August 13th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Endeavour Silver had a negative net margin of 28.49% and a negative return on equity of 0.62%. The business had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $81.48 million. On average, equities research analysts forecast that Endeavour Silver will post -0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endeavour Silver

Several hedge funds and other institutional investors have recently bought and sold shares of EXK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Endeavour Silver by 19.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,896,829 shares of the mining company’s stock worth $38,852,000 after purchasing an additional 1,274,094 shares during the last quarter. Invesco Ltd. increased its position in shares of Endeavour Silver by 56.0% during the 1st quarter. Invesco Ltd. now owns 3,301,752 shares of the mining company’s stock worth $14,098,000 after purchasing an additional 1,185,100 shares during the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of Endeavour Silver during the 2nd quarter worth about $5,621,000. Azarias Capital Management L.P. acquired a new stake in shares of Endeavour Silver during the 2nd quarter worth about $5,606,000. Finally, Mackenzie Financial Corp increased its position in shares of Endeavour Silver by 995.2% during the 4th quarter. Mackenzie Financial Corp now owns 1,180,945 shares of the mining company’s stock worth $4,325,000 after purchasing an additional 1,073,114 shares during the last quarter. 20.06% of the stock is currently owned by institutional investors and hedge funds.

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.