Endeavour Silver (NYSE:EXK) Stock Price Up 6.7% Following Strong Earnings

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR)’s stock price was up 6.7% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $5.20 and last traded at $5.09. Approximately 1,556,396 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 5,442,208 shares. The stock had previously closed at $4.77.

The mining company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $53.40 million during the quarter, compared to analyst estimates of $54.91 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 7.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) EPS.

Analysts Set New Price Targets

Several analysts have recently commented on EXK shares. HC Wainwright raised their price objective on shares of Endeavour Silver from $6.00 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Endeavour Silver to a “sell” rating in a research report on Wednesday. CIBC raised their price objective on shares of Endeavour Silver from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Alliance Global Partners raised their price objective on shares of Endeavour Silver from $5.25 to $6.25 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

Hedge Funds Weigh In On Endeavour Silver

A number of hedge funds have recently bought and sold shares of EXK. Van ECK Associates Corp raised its stake in shares of Endeavour Silver by 2.7% during the 3rd quarter. Van ECK Associates Corp now owns 25,125,455 shares of the mining company’s stock worth $98,994,000 after purchasing an additional 658,215 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of Endeavour Silver by 60.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 10,781,056 shares of the mining company’s stock worth $25,972,000 after purchasing an additional 4,046,065 shares during the period. Tidal Investments LLC bought a new stake in shares of Endeavour Silver during the 1st quarter worth $19,008,000. TD Asset Management Inc bought a new stake in shares of Endeavour Silver during the 2nd quarter worth $9,452,000. Finally, National Bank of Canada FI raised its stake in shares of Endeavour Silver by 5,735.0% during the 2nd quarter. National Bank of Canada FI now owns 438,794 shares of the mining company’s stock worth $1,522,000 after purchasing an additional 431,274 shares during the period. 20.06% of the stock is owned by hedge funds and other institutional investors.

Endeavour Silver Stock Up 0.4 %

The company has a market capitalization of $1.16 billion, a P/E ratio of -67.42 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.65 and a current ratio of 2.02. The stock has a 50 day moving average price of $4.13 and a 200 day moving average price of $3.79.

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.