Endeavour Silver (NYSE:EXK) Shares Gap Up After Better-Than-Expected Earnings

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) shares gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $3.64, but opened at $3.80. Endeavour Silver shares last traded at $4.21, with a volume of 2,765,697 shares changing hands.

The mining company reported $0.02 earnings per share for the quarter, beating 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%.

Analyst Ratings Changes

A number of equities analysts have commented on EXK shares. Ventum Cap Mkts raised shares of Endeavour Silver to a “strong-buy” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of Endeavour Silver to a “sell” rating in a research report on Friday, February 28th. HC Wainwright decreased their target price on shares of Endeavour Silver from $7.25 to $7.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, TD Securities initiated coverage on Endeavour Silver in a research report on Friday, November 29th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Endeavour Silver currently has an average rating of “Moderate Buy” and a consensus price target of $6.56.

Hedge Funds Weigh In On Endeavour Silver

A number of hedge funds have recently modified their holdings of EXK. Quest Partners LLC acquired a new stake in Endeavour Silver during the 3rd quarter worth about $964,000. Barclays PLC raised its holdings in shares of Endeavour Silver by 1,730,033.3% during the third quarter. Barclays PLC now owns 51,904 shares of the mining company’s stock valued at $205,000 after acquiring an additional 51,901 shares during the period. Sprott Inc. lifted its position in shares of Endeavour Silver by 23.1% in the 4th quarter. Sprott Inc. now owns 1,586,302 shares of the mining company’s stock valued at $5,809,000 after acquiring an additional 298,091 shares in the last quarter. Geode Capital Management LLC boosted its stake in Endeavour Silver by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 116,853 shares of the mining company’s stock worth $460,000 after purchasing an additional 10,543 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in Endeavour Silver during the 4th quarter worth approximately $119,000. 20.06% of the stock is currently owned by institutional investors and hedge funds.

Endeavour Silver Stock Performance

The firm’s 50 day simple moving average is $3.80 and its 200-day simple moving average is $4.01. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -32.65 and a beta of 1.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.07 and a current ratio of 1.39.

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.