Short Interest in Endeavour Silver Corp. (NYSE:EXK) Grows By 6.7%

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 10,040,000 shares, an increase of 6.7% from the May 31st total of 9,410,000 shares. Based on an average daily trading volume, of 6,620,000 shares, the short-interest ratio is currently 1.5 days. Approximately 4.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC increased its holdings in shares of Endeavour Silver by 158.3% in the 1st quarter. Virtu Financial LLC now owns 147,287 shares of the mining company’s stock worth $355,000 after buying an additional 90,259 shares during the last quarter. Tidal Investments LLC bought a new stake in Endeavour Silver during the first quarter worth approximately $19,008,000. B. Riley Wealth Advisors Inc. raised its position in Endeavour Silver by 9.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 76,800 shares of the mining company’s stock valued at $187,000 after purchasing an additional 6,800 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Endeavour Silver by 60.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 10,781,056 shares of the mining company’s stock valued at $25,972,000 after purchasing an additional 4,046,065 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Endeavour Silver by 61.6% in the 1st quarter. SG Americas Securities LLC now owns 20,603 shares of the mining company’s stock worth $50,000 after purchasing an additional 7,852 shares during the period. 20.06% of the stock is owned by hedge funds and other institutional investors.

Endeavour Silver Price Performance

Shares of NYSE:EXK traded up $0.09 during mid-day trading on Tuesday, reaching $3.56. The stock had a trading volume of 4,270,530 shares, compared to its average volume of 5,443,593. The company has a market cap of $874.87 million, a P/E ratio of -178.00 and a beta of 1.69. The business’s 50 day moving average price is $3.47 and its 200 day moving average price is $2.51. The company has a current ratio of 2.02, a quick ratio of 1.63 and a debt-to-equity ratio of 0.01. Endeavour Silver has a 1 year low of $1.42 and a 1 year high of $4.20.

Wall Street Analyst Weigh In

Several analysts have recently commented on EXK shares. CIBC raised their price objective on shares of Endeavour Silver from $4.25 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. BMO Capital Markets started coverage on Endeavour Silver in a report on Monday, June 17th. They set an “outperform” rating and a $6.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $6.25 price objective on shares of Endeavour Silver in a research note on Friday, May 10th. Finally, StockNews.com raised Endeavour Silver to a “sell” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.81.

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.