Endeavour Silver (NYSE:EXK) Trading Up 7.4% After Better-Than-Expected Earnings

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) shot up 7.4% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $4.80 and last traded at $4.85. 1,888,452 shares were traded during trading, a decline of 79% from the average session volume of 9,203,068 shares. The stock had previously closed at $4.52.

The mining company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Endeavour Silver had a positive return on equity of 0.97% and a negative net margin of 13.04%. The business had revenue of $42.20 million during the quarter, compared to analyst estimates of $69.90 million.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EXK. Ventum Cap Mkts raised Endeavour Silver to a “strong-buy” rating in a report on Wednesday, November 13th. HC Wainwright lifted their target price on Endeavour Silver from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Wednesday. TD Securities raised Endeavour Silver to a “strong-buy” rating in a research note on Monday. StockNews.com upgraded Endeavour Silver to a “sell” rating in a research report on Friday, February 28th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Endeavour Silver in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Endeavour Silver presently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

Institutional Investors Weigh In On Endeavour Silver

Several hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its holdings in Endeavour Silver by 995.2% in the fourth quarter. Mackenzie Financial Corp now owns 1,180,945 shares of the mining company’s stock valued at $4,325,000 after purchasing an additional 1,073,114 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Endeavour Silver in the fourth quarter valued at $543,000. Vident Advisory LLC boosted its holdings in Endeavour Silver by 2.8% in the fourth quarter. Vident Advisory LLC now owns 235,043 shares of the mining company’s stock valued at $860,000 after purchasing an additional 6,441 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Endeavour Silver by 26.2% in the fourth quarter. Two Sigma Advisers LP now owns 209,100 shares of the mining company’s stock valued at $765,000 after purchasing an additional 43,400 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Endeavour Silver by 88.4% in the fourth quarter. Two Sigma Investments LP now owns 727,762 shares of the mining company’s stock valued at $2,664,000 after purchasing an additional 341,468 shares during the last quarter. 20.06% of the stock is owned by hedge funds and other institutional investors.

Endeavour Silver Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.07. The company has a market capitalization of $1.26 billion, a PE ratio of -36.92 and a beta of 1.55. The firm’s fifty day simple moving average is $3.82 and its 200 day simple moving average is $4.02.

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.