Endeavour Silver Corp. (EXK) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Endeavour Silver Corp. (NYSE:EXK) from a hold rating to a buy rating in a research note issued to investors on Friday. They currently have $5.50 price objective on the mining company’s stock.
According to Zacks, “ENDEAVOUR SILVER CORP. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour’s two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company’s acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide. Endeavour stands out from other silver mining companies for the strong organic growth potential of its core assets, its high silver grades and leverage, the substantial exploration upside of its Mexican mining properties, and the significant under-utilized capacities of the Guanacevi and Bolanitos plants. “
A number of other research firms have also weighed in on EXK. RBC Capital Markets reiterated a sector perform rating and issued a $7.75 target price on shares of Endeavour Silver Corp. in a research note on Friday, September 9th. Raymond James Financial Inc. upgraded Endeavour Silver Corp. from an underperform rating to a market perform rating in a research note on Monday, June 27th. National Bank Financial initiated coverage on Endeavour Silver Corp. in a research note on Thursday, September 8th. They issued a sector perform rating on the stock. Finally, TD Securities reiterated a hold rating and issued a $6.50 target price (up previously from $5.50) on shares of Endeavour Silver Corp. in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $4.07.
Shares of Endeavour Silver Corp. (NYSE:EXK) opened at 5.05 on Friday. The firm’s 50-day moving average is $5.16 and its 200 day moving average is $3.95. Endeavour Silver Corp. has a 12 month low of $1.00 and a 12 month high of $5.95. The company’s market capitalization is $634.50 million.
A number of institutional investors have recently bought and sold shares of EXK. Royal Bank of Canada raised its position in Endeavour Silver Corp. by 273.3% in the first quarter. Royal Bank of Canada now owns 54,335 shares of the mining company’s stock valued at $133,000 after buying an additional 39,781 shares during the period. Spark Investment Management LLC raised its position in Endeavour Silver Corp. by 26.3% in the second quarter. Spark Investment Management LLC now owns 36,000 shares of the mining company’s stock valued at $141,000 after buying an additional 7,500 shares during the period. Mackenzie Financial Corp bought a new position in Endeavour Silver Corp. during the second quarter valued at about $191,000. A.R.T. Advisors LLC raised its position in Endeavour Silver Corp. by 250.9% in the first quarter. A.R.T. Advisors LLC now owns 207,543 shares of the mining company’s stock valued at $510,000 after buying an additional 148,400 shares during the period. Finally, AXA bought a new position in Endeavour Silver Corp. during the second quarter valued at about $785,000. Institutional investors own 23.61% of the company’s stock.
About Endeavour Silver Corp.
Endeavour Silver Corp. is a mineral company engaged in the evaluation, acquisition, exploration, development and exploitation of metal properties in Mexico and Chile. The Company’s operating mining segments include Guanacevi, Bolanitos and El Cubo, which are located in Mexico, as well as Exploration and Corporate segments.
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