Endeavour Silver (NYSE:EXK) Stock Price Down 8% Following Weak Earnings

Shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) were down 8% on Monday following a weaker than expected earnings announcement. The company traded as low as $12.58 and last traded at $12.7830. Approximately 3,935,330 shares were traded during trading, a decline of 74% from the average daily volume of 14,871,406 shares. The stock had previously closed at $13.90.

The mining company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $172.60 million for the quarter, compared to the consensus estimate of $227.99 million. Endeavour Silver had a negative net margin of 27.52% and a negative return on equity of 1.34%.

Analyst Ratings Changes

EXK has been the topic of a number of research analyst reports. Zacks Research upgraded Endeavour Silver from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. iA Financial set a $11.00 target price on Endeavour Silver in a research note on Friday, January 9th. National Bank Financial upgraded Endeavour Silver to a “strong-buy” rating in a report on Tuesday, December 9th. HC Wainwright lifted their price target on shares of Endeavour Silver from $14.50 to $17.00 and gave the company a “buy” rating in a report on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Endeavour Silver in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Endeavour Silver presently has an average rating of “Buy” and an average price target of $14.50.

Institutional Trading of Endeavour Silver

Hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its position in Endeavour Silver by 13.3% during the 1st quarter. Millennium Management LLC now owns 2,455,127 shares of the mining company’s stock valued at $10,483,000 after acquiring an additional 289,096 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Endeavour Silver during the first quarter valued at approximately $100,000. Goldman Sachs Group Inc. lifted its holdings in shares of Endeavour Silver by 133.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,309,093 shares of the mining company’s stock valued at $5,590,000 after purchasing an additional 747,556 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Endeavour Silver by 162.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 527,300 shares of the mining company’s stock worth $2,252,000 after purchasing an additional 326,508 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Endeavour Silver in the 2nd quarter worth approximately $309,000. Institutional investors own 20.06% of the company’s stock.

Endeavour Silver Price Performance

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 company has a market cap of $3.51 billion, a PE ratio of -28.29 and a beta of 1.16. The firm has a 50 day moving average of $11.63 and a two-hundred day moving average of $9.08.

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.