Endeavour Silver (NYSE:EXK) Shares Gap Up – Should You Buy?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $9.52, but opened at $10.02. Endeavour Silver shares last traded at $10.07, with a volume of 2,404,352 shares changing hands.

Analyst Upgrades and Downgrades

EXK has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating on shares of Endeavour Silver in a research report on Friday, October 10th. B. Riley boosted their price objective on Endeavour Silver from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. CIBC upgraded Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 price target for the company in a research note on Monday, November 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Endeavour Silver in a report on Tuesday, November 25th. Five investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $12.67.

Endeavour Silver Stock Performance

The stock has a market cap of $2.89 billion, a P/E ratio of -28.73 and a beta of 1.32. The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $8.47 and a 200 day simple moving average of $6.83.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its earnings results on Friday, November 7th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06). The company had revenue of $111.40 million for the quarter, compared to analyst estimates of $162.05 million. Endeavour Silver had a negative return on equity of 1.34% and a negative net margin of 31.18%. On average, equities analysts expect that Endeavour Silver Corporation will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Endeavour Silver by 1,631.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company’s stock valued at $33,720,000 after purchasing an additional 4,056,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Endeavour Silver by 38.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after purchasing an additional 3,005,563 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Endeavour Silver during the third quarter valued at $20,225,000. Alps Advisors Inc. lifted its holdings in shares of Endeavour Silver by 113.9% during the third quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company’s stock worth $34,965,000 after purchasing an additional 2,374,365 shares during the period. Finally, Condire Management LP grew its stake in shares of Endeavour Silver by 200.0% in the third quarter. Condire Management LP now owns 3,000,000 shares of the mining company’s stock worth $23,520,000 after purchasing an additional 2,000,000 shares during the last quarter. Institutional investors and hedge funds own 20.06% of the company’s stock.

About Endeavour Silver

Endeavour Silver Corp. is a Vancouver-based precious metals mining company focused on the acquisition, development and operation of silver and gold properties in Mexico. Publicly listed on the New York Stock Exchange under the ticker EXK, the company has positioned itself as a mid-tier producer with a portfolio of high-grade, operating mines and exploration assets in key mineral belts.

Endeavour Silver’s core business activities revolve around four principal underground mines located in the states of Durango, Zacatecas, Guanajuato and Jalisco.