Endeavour Silver (NYSE:EXK) Shares Down 6.9% - Here's What Happened

Endeavour Silver Corp. (NYSE:EXK - Get Free Report) TSE: EDR's stock price traded down 6.9% during trading on Wednesday . The company traded as low as $3.63 and last traded at $3.64. 1,665,749 shares were traded during mid-day trading, a decline of 72% from the average session volume of 5,900,474 shares. The stock had previously closed at $3.91.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $7.25 target price on shares of Endeavour Silver in a research report on Wednesday, December 18th. Ventum Cap Mkts raised Endeavour Silver to a "strong-buy" rating in a report on Wednesday, November 13th. StockNews.com raised shares of Endeavour Silver to a "sell" rating in a report on Tuesday, December 24th. TD Securities assumed coverage on Endeavour Silver in a report on Friday, November 29th. They issued a "buy" rating for the company. Finally, Alliance Global Partners upped their target price on shares of Endeavour Silver from $5.25 to $6.25 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $6.63.

Endeavour Silver Price Performance

The business's fifty day moving average price is $4.24 and its 200-day moving average price is $4.01. The company has a market capitalization of $928.62 million, a P/E ratio of -27.23 and a beta of 1.64. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $53.40 million during the quarter, compared to analyst estimates of $54.91 million. Endeavour Silver had a positive return on equity of 0.97% and a negative net margin of 13.04%. The company's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, sell-side analysts predict that Endeavour Silver Corp. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endeavour Silver

A number of hedge funds have recently made changes to their positions in EXK. Van ECK Associates Corp raised its holdings in Endeavour Silver by 2.7% during the 3rd quarter. Van ECK Associates Corp now owns 25,125,455 shares of the mining company's stock valued at $98,994,000 after buying an additional 658,215 shares during the last quarter. TD Asset Management Inc purchased a new stake in shares of Endeavour Silver in the 2nd quarter worth about $9,452,000. National Bank of Canada FI boosted its stake in shares of Endeavour Silver by 3.4% during the 3rd quarter. National Bank of Canada FI now owns 453,869 shares of the mining company's stock valued at $1,788,000 after purchasing an additional 15,075 shares in the last quarter. U S Global Investors Inc. purchased a new position in shares of Endeavour Silver during the third quarter valued at about $1,382,000. Finally, Quest Partners LLC bought a new position in Endeavour Silver in the third quarter worth about $964,000. 20.06% of the stock is currently owned by institutional investors.

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.