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

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) gapped up before the market opened on Monday . The stock had previously closed at $4.70, but opened at $4.96. Endeavour Silver shares last traded at $4.95, with a volume of 818,294 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EXK. Alliance Global Partners raised their target price on Endeavour Silver from $5.25 to $6.25 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com raised Endeavour Silver to a “sell” rating in a research report on Wednesday, November 6th. Finally, HC Wainwright upped their target price on shares of Endeavour Silver from $6.00 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Endeavour Silver currently has an average rating of “Moderate Buy” and a consensus target price of $6.63.

Endeavour Silver Price Performance

The company has a market cap of $1.23 billion, a PE ratio of -36.15 and a beta of 1.67. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $4.36 and a 200-day simple moving average of $3.89.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its earnings results on Tuesday, November 5th. The mining company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $53.40 million during the quarter, compared to the consensus estimate of $54.91 million. Endeavour Silver had a positive return on equity of 0.97% and a negative net margin of 13.04%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, research analysts predict that Endeavour Silver Corp. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of Endeavour Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Endeavour Silver by 2.7% in the third quarter. Van ECK Associates Corp now owns 25,125,455 shares of the mining company’s stock valued at $98,994,000 after purchasing an additional 658,215 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Endeavour Silver in the 1st quarter valued at about $19,008,000. TD Asset Management Inc purchased a new position in shares of Endeavour Silver during the second quarter worth about $9,452,000. National Bank of Canada FI increased its stake in shares of Endeavour Silver by 3.4% during the third quarter. National Bank of Canada FI now owns 453,869 shares of the mining company’s stock worth $1,788,000 after acquiring an additional 15,075 shares during the period. Finally, U S Global Investors Inc. acquired a new stake in shares of Endeavour Silver in the 3rd quarter valued at approximately $1,382,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.

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.