Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “ENDEAVOUR SILVER CORP. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour’s two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company’s acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide. Endeavour stands out from other silver mining companies for the strong organic growth potential of its core assets, its high silver grades and leverage, the substantial exploration upside of its Mexican mining properties, and the significant under-utilized capacities of the Guanacevi and Bolanitos plants. “
A number of other equities research analysts also recently commented on EXK. TD Securities restated a “hold” rating and issued a $6.50 target price on shares of Endeavour Silver Corp. in a research report on Sunday, November 6th. RBC Capital Markets restated a “sector perform” rating and issued a $7.75 target price on shares of Endeavour Silver Corp. in a research report on Friday, September 9th. Canaccord Genuity assumed coverage on Endeavour Silver Corp. in a research report on Tuesday, October 25th. They issued a “hold” rating on the stock. GMP Securities upgraded Endeavour Silver Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 17th. Finally, National Bank Financial began coverage on Endeavour Silver Corp. in a report on Thursday, September 8th. They issued a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Endeavour Silver Corp. presently has an average rating of “Hold” and a consensus price target of $5.11.
Shares of Endeavour Silver Corp. (NYSE:EXK) opened at 3.73 on Wednesday. The company’s 50-day moving average price is $4.27 and its 200-day moving average price is $4.41. The company’s market cap is $474.01 million. Endeavour Silver Corp. has a 12 month low of $1.00 and a 12 month high of $5.95.
Endeavour Silver Corp. (NYSE:EXK) last posted its earnings results on Thursday, November 3rd. The mining company reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. Endeavour Silver Corp. had a positive return on equity of 7.83% and a negative net margin of 74.40%. Equities analysts forecast that Endeavour Silver Corp. will post $0.11 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in Endeavour Silver Corp. by 62.9% in the third quarter. Bank of Montreal Can now owns 24,764 shares of the mining company’s stock valued at $127,000 after buying an additional 9,564 shares during the last quarter. Spark Investment Management LLC boosted its position in Endeavour Silver Corp. by 26.3% in the second quarter. Spark Investment Management LLC now owns 36,000 shares of the mining company’s stock valued at $141,000 after buying an additional 7,500 shares during the last quarter. Mackenzie Financial Corp bought a new position in Endeavour Silver Corp. during the second quarter valued at approximately $191,000. CIBC World Markets Inc. bought a new position in Endeavour Silver Corp. during the third quarter valued at approximately $198,000. Finally, LMR Partners LLP bought a new position in Endeavour Silver Corp. during the third quarter valued at approximately $204,000. 22.76% of the stock is owned by hedge funds and other institutional investors.
Endeavour Silver Corp. Company Profile
Endeavour Silver Corp. is a mineral company engaged in the evaluation, acquisition, exploration, development and exploitation of metal properties in Mexico and Chile. The Company’s operating mining segments include Guanacevi, Bolanitos and El Cubo, which are located in Mexico, as well as Exploration and Corporate segments.