Endeavour Silver (NYSE:EXK) Trading Down 10.9% – Time to Sell?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s stock price traded down 10.9% during mid-day trading on Friday . The company traded as low as $8.33 and last traded at $8.2530. 3,670,556 shares changed hands during trading, a decline of 67% from the average session volume of 11,043,591 shares. The stock had previously closed at $9.26.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Endeavour Silver in a research note on Thursday, May 7th. Wall Street Zen upgraded Endeavour Silver from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Endeavour Silver in a research report on Monday, April 20th. Finally, Zacks Research upgraded Endeavour Silver from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Endeavour Silver Stock Performance

The company has a 50-day moving average of $9.59 and a 200 day moving average of $10.21. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.36 billion, a PE ratio of -99.55 and a beta of 1.28.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its quarterly earnings data on Wednesday, May 6th. The mining company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.11. Endeavour Silver had a positive return on equity of 9.33% and a negative net margin of 3.68%.The firm had revenue of $209.70 million during the quarter, compared to analysts’ expectations of $200.41 million. Equities research analysts predict that Endeavour Silver Corporation will post 0.63 EPS for the current year.

Hedge Funds Weigh In On Endeavour Silver

A number of hedge funds and other institutional investors have recently modified their holdings of EXK. Vanguard Group Inc. boosted its holdings in shares of Endeavour Silver by 1,631.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company’s stock worth $33,720,000 after purchasing an additional 4,056,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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. purchased a new position in shares of Endeavour Silver in the 3rd quarter worth about $20,225,000. Alps Advisors Inc. boosted its holdings in shares of Endeavour Silver by 113.9% in the 3rd 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 in the last quarter. Finally, Condire Management LP boosted its holdings in shares of Endeavour Silver by 200.0% in the 3rd 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 in the last quarter. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

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.