Endeavour Silver (NYSE:EXK) Shares Gap Up - Here's What Happened

Endeavour Silver Corp. (NYSE:EXK - Get Free Report) TSE: EDR's stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.15, but opened at $5.32. Endeavour Silver shares last traded at $5.51, with a volume of 1,847,809 shares.

Wall Street Analyst Weigh In

EXK has been the topic of several research analyst reports. HC Wainwright cut their price target on shares of Endeavour Silver from $6.25 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. CIBC raised their price objective on Endeavour Silver from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Wednesday, July 10th. Finally, Alliance Global Partners boosted their target price on Endeavour Silver from $5.25 to $6.25 and gave the company a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Endeavour Silver presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.31.

Endeavour Silver Stock Performance

The company has a current ratio of 2.02, a quick ratio of 1.65 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -274.50 and a beta of 1.71. The stock's 50 day moving average is $3.70 and its two-hundred day moving average is $3.61.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last announced its earnings results on Thursday, August 1st. The mining company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $58.30 million for the quarter, compared to analyst estimates of $62.01 million. Endeavour Silver had a negative return on equity of 1.25% and a negative net margin of 6.53%. Endeavour Silver's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. Analysts anticipate that Endeavour Silver Corp. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its position in Endeavour Silver by 126.3% in the 2nd quarter. Van ECK Associates Corp now owns 24,467,240 shares of the mining company's stock valued at $86,125,000 after buying an additional 13,657,121 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Endeavour Silver by 60.1% in the first quarter. Jupiter Asset Management Ltd. now owns 10,781,056 shares of the mining company's stock valued at $25,972,000 after acquiring an additional 4,046,065 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Endeavour Silver during the first quarter worth about $19,008,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Endeavour Silver by 3.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,349,514 shares of the mining company's stock worth $12,892,000 after purchasing an additional 188,787 shares in the last quarter. Finally, TD Asset Management Inc purchased a new position in Endeavour Silver during the second quarter worth about $9,452,000. 20.06% of the stock is currently owned by hedge funds and other 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.