Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.

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 analysts have also issued reports on EXK. UBS Group AG upgraded shares of Endeavour Silver Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 5th. BidaskClub lowered shares of Endeavour Silver Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Endeavour Silver Corporation in a research note on Tuesday, July 4th. Noble Financial restated a “buy” rating on shares of Endeavour Silver Corporation in a research note on Saturday, May 13th. Finally, ValuEngine lowered shares of Endeavour Silver Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.71.

Shares of Endeavour Silver Corporation (EXK) traded up 1.00% on Tuesday, hitting $3.02. 932,494 shares of the stock traded hands. The firm’s 50-day moving average is $3.04 and its 200 day moving average is $3.50. The firm has a market cap of $384.45 million, a P/E ratio of 47.94 and a beta of -0.01. Endeavour Silver Corporation has a 12-month low of $2.75 and a 12-month high of $5.95.

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) last issued its quarterly earnings results on Wednesday, May 3rd. The mining company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $36.44 million during the quarter, compared to analyst estimates of $36.31 million. Endeavour Silver Corporation had a net margin of 5.35% and a return on equity of 6.33%. Equities research analysts forecast that Endeavour Silver Corporation will post $0.13 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in Endeavour Silver Corporation by 32.5% in the first quarter. Van ECK Associates Corp now owns 20,341,055 shares of the mining company’s stock valued at $64,685,000 after buying an additional 4,989,578 shares during the last quarter. Bank of Montreal Can raised its stake in Endeavour Silver Corporation by 1,730.2% in the second quarter. Bank of Montreal Can now owns 2,058,260 shares of the mining company’s stock valued at $6,278,000 after buying an additional 1,945,800 shares during the last quarter. Global X Management Co. LLC raised its stake in Endeavour Silver Corporation by 15.2% in the first quarter. Global X Management Co. LLC now owns 1,510,720 shares of the mining company’s stock valued at $4,804,000 after buying an additional 199,276 shares during the last quarter. Sprott Inc. raised its stake in Endeavour Silver Corporation by 38.5% in the second quarter. Sprott Inc. now owns 693,316 shares of the mining company’s stock valued at $2,115,000 after buying an additional 192,557 shares during the last quarter. Finally, UBS Group AG raised its stake in Endeavour Silver Corporation by 16.0% in the first quarter. UBS Group AG now owns 742,981 shares of the mining company’s stock valued at $2,363,000 after buying an additional 102,656 shares during the last quarter. Hedge funds and other institutional investors own 32.27% of the company’s stock.

About Endeavour Silver Corporation

Endeavour Silver Corp. is engaged in silver mining in Mexico, and related activities, including property acquisition, exploration, development, mineral extraction, processing, refining and reclamation. The Company is engaged in exploration activities in 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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Analyst Recommendations for Endeavour Silver Corporation (NYSE:EXK)

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