Endeavour Silver (NYSE:EXK) Shares Gap Up Following Analyst Upgrade

Shares of Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) gapped up prior to trading on Tuesday after Alliance Global Partners raised their price target on the stock from $5.25 to $6.25. The stock had previously closed at $5.15, but opened at $5.32. Alliance Global Partners currently has a buy rating on the stock. Endeavour Silver shares last traded at $5.51, with a volume of 1,847,809 shares.

A number of other equities analysts also recently issued reports on the stock. 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 report on Wednesday, July 10th. HC Wainwright lowered their price target on shares of Endeavour Silver from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. 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. According to data from MarketBeat.com, Endeavour Silver currently has an average rating of “Moderate Buy” and a consensus price target of $6.31.

Hedge Funds Weigh In On Endeavour Silver

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. purchased a new position in shares of Endeavour Silver in the second quarter worth $589,000. National Bank of Canada FI lifted its holdings in shares of Endeavour Silver by 5,735.0% in the second quarter. National Bank of Canada FI now owns 438,794 shares of the mining company’s stock worth $1,522,000 after buying an additional 431,274 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Endeavour Silver by 60.1% in the first 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Endeavour Silver by 3.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,349,514 shares of the mining company’s stock worth $12,892,000 after buying an additional 188,787 shares in the last quarter. Finally, U S Global Investors Inc. purchased a new position in shares of Endeavour Silver in the third quarter worth $1,382,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.

Endeavour Silver Price Performance

The firm’s fifty day moving average price is $3.75 and its 200 day moving average price is $3.62. The company has a quick ratio of 1.65, a current ratio of 2.02 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.33 billion, a PE ratio of -270.50 and a beta of 1.71.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its 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). Endeavour Silver had a negative return on equity of 1.25% and a negative net margin of 6.53%. The company had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $62.01 million. During the same period last year, the firm posted $0.01 EPS. Endeavour Silver’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that Endeavour Silver Corp. will post 0.04 EPS for the current fiscal year.

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.