Endeavour Silver (NYSE:EXK) Shares Gap Up – Here’s Why

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) gapped up before the market opened on Tuesday . The stock had previously closed at $4.80, but opened at $4.94. Endeavour Silver shares last traded at $4.93, with a volume of 1,432,825 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on EXK shares. Alliance Global Partners restated a “buy” rating on shares of Endeavour Silver in a report on Wednesday, March 12th. StockNews.com raised shares of Endeavour Silver to a “sell” rating in a research report on Friday, February 28th. HC Wainwright lifted their target price on Endeavour Silver from $7.00 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, TD Securities raised Endeavour Silver to a “strong-buy” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.63.

Endeavour Silver Stock Performance

The company has a market capitalization of $1.29 billion, a P/E ratio of -37.81 and a beta of 1.55. The stock’s 50-day moving average price is $3.93 and its 200-day moving average price is $4.08. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its earnings results on Tuesday, March 11th. The mining company reported $0.02 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $69.90 million. As a group, equities analysts expect that Endeavour Silver Corp. will post -0.07 EPS for the current year.

Hedge Funds Weigh In On Endeavour Silver

Several hedge funds have recently made changes to their positions in EXK. Quest Partners LLC purchased a new stake in shares of Endeavour Silver in the third quarter valued at $964,000. Barclays PLC boosted its holdings in Endeavour Silver by 1,730,033.3% during the third quarter. Barclays PLC now owns 51,904 shares of the mining company’s stock valued at $205,000 after acquiring an additional 51,901 shares during the period. Sprott Inc. boosted its stake in Endeavour Silver by 23.1% during the 4th quarter. Sprott Inc. now owns 1,586,302 shares of the mining company’s stock valued at $5,809,000 after purchasing an additional 298,091 shares during the period. Geode Capital Management LLC grew its holdings in Endeavour Silver by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 116,853 shares of the mining company’s stock valued at $460,000 after buying an additional 10,543 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Endeavour Silver in the 4th quarter worth approximately $119,000. Institutional investors and hedge funds own 20.06% of the company’s stock.

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.