Endeavour Silver (NYSE:EXK) Shares Gap Down After Earnings Miss

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR)’s stock price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $3.36, but opened at $3.25. Endeavour Silver shares last traded at $3.21, with a volume of 2,537,486 shares traded.

The mining company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). Endeavour Silver had a negative net margin of 13.04% and a positive return on equity of 0.97%. The firm had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $83.10 million.

Wall Street Analyst Weigh In

A number of analysts have commented on EXK shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Endeavour Silver in a report on Wednesday, March 12th. Raymond James began coverage on Endeavour Silver in a research report on Friday, March 21st. They set an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.25 price objective on shares of Endeavour Silver in a research report on Wednesday. TD Securities raised Endeavour Silver to a “strong-buy” rating in a research report on Monday, March 10th. Finally, StockNews.com raised Endeavour Silver to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Hedge Funds Weigh In On Endeavour Silver

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC increased its holdings in Endeavour Silver by 52.9% in the fourth quarter. Tidal Investments LLC now owns 11,178,812 shares of the mining company’s stock valued at $40,914,000 after buying an additional 3,869,920 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Endeavour Silver by 122.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,515,836 shares of the mining company’s stock valued at $23,858,000 after buying an additional 3,581,936 shares in the last quarter. Millennium Management LLC purchased a new position in Endeavour Silver in the fourth quarter valued at $7,930,000. American Century Companies Inc. increased its holdings in Endeavour Silver by 268.9% in the fourth quarter. American Century Companies Inc. now owns 2,657,573 shares of the mining company’s stock valued at $9,728,000 after buying an additional 1,937,150 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Endeavour Silver by 529.5% in the fourth quarter. Invesco Ltd. now owns 2,116,652 shares of the mining company’s stock valued at $7,747,000 after buying an additional 1,780,405 shares in the last quarter. 20.06% of the stock is owned by hedge funds and other institutional investors.

Endeavour Silver Stock Down 4.2%

The stock has a market cap of $887.00 million, a price-to-earnings ratio of -24.77 and a beta of 1.50. The business’s 50 day moving average is $3.91 and its 200-day moving average is $4.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.07 and a current ratio of 1.39.

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.