Endeavour Silver (NYSE:EXK) Shares Gap Up – Time to Buy?

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.15, but opened at $5.32. Endeavour Silver shares last traded at $5.51, with a volume of 1,847,809 shares.

Analyst Ratings Changes

EXK has been the topic of a number of recent research reports. CIBC upped their target price on Endeavour Silver from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Alliance Global Partners upped their price objective on shares of Endeavour Silver from $4.00 to $5.25 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, HC Wainwright cut their price objective on shares of Endeavour Silver from $6.25 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Endeavour Silver presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.06.

Endeavour Silver Trading Up 7.8 %

The firm has a market cap of $1.36 billion, a PE ratio of -275.50 and a beta of 1.71. The company has a 50-day simple moving average of $3.64 and a 200 day simple moving average of $3.59. The company has a current ratio of 2.02, a quick ratio of 1.65 and a debt-to-equity ratio of 0.14.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $58.30 million for the quarter, compared to analyst estimates of $62.01 million. Endeavour Silver had a negative net margin of 6.53% and a negative return on equity of 1.25%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. As a group, sell-side analysts forecast that Endeavour Silver Corp. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EXK. Van ECK Associates Corp raised its position in Endeavour Silver by 12.9% during the first quarter. Van ECK Associates Corp now owns 10,810,119 shares of the mining company’s stock worth $26,052,000 after acquiring an additional 1,237,440 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Endeavour Silver by 3.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,349,514 shares of the mining company’s stock worth $12,892,000 after purchasing an additional 188,787 shares during the last quarter. SG Americas Securities LLC lifted its stake in Endeavour Silver by 61.6% in the 1st quarter. SG Americas Securities LLC now owns 20,603 shares of the mining company’s stock valued at $50,000 after buying an additional 7,852 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in 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 worth $25,972,000 after buying an additional 4,046,065 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Endeavour Silver by 9.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 76,800 shares of the mining company’s stock worth $187,000 after buying an additional 6,800 shares in the last quarter. 20.06% of the stock is owned by institutional investors and hedge funds.

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.