Endeavour Silver (NYSE:EXK) Shares Gap Down After Earnings Miss

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) shares gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $7.32, but opened at $6.70. Endeavour Silver shares last traded at $7.1870, with a volume of 2,677,201 shares traded.

The mining company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). Endeavour Silver had a negative return on equity of 0.62% and a negative net margin of 28.49%.The business had revenue of $111.40 million during the quarter, compared to the consensus estimate of $162.05 million.

Analysts Set New Price Targets

Several research firms recently weighed in on EXK. CIBC upgraded shares of Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 price target on the stock in a report on Monday, November 3rd. Raymond James Financial reaffirmed an “outperform” rating on shares of Endeavour Silver in a research note on Friday, October 10th. Wall Street Zen upgraded shares of Endeavour Silver from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Zacks Research upgraded shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $13.50.

Institutional Investors Weigh In On Endeavour Silver

Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its holdings in Endeavour Silver by 3.0% in the second quarter. Public Employees Retirement System of Ohio now owns 73,651 shares of the mining company’s stock worth $362,000 after purchasing an additional 2,129 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Endeavour Silver by 5.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,256 shares of the mining company’s stock worth $203,000 after purchasing an additional 2,161 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in shares of Endeavour Silver by 28.9% in the 1st quarter. Hohimer Wealth Management LLC now owns 13,015 shares of the mining company’s stock worth $56,000 after buying an additional 2,915 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in Endeavour Silver by 23.9% during the 1st quarter. Atria Wealth Solutions Inc. now owns 26,494 shares of the mining company’s stock valued at $113,000 after buying an additional 5,116 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Endeavour Silver by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 144,333 shares of the mining company’s stock valued at $714,000 after buying an additional 5,303 shares in the last quarter. Institutional investors own 20.06% of the company’s stock.

Endeavour Silver Stock Down 1.5%

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 stock has a 50 day simple moving average of $7.51 and a 200-day simple moving average of $5.68. The firm has a market cap of $2.12 billion, a PE ratio of -26.71 and a beta of 1.27.

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.