The Endeavour Silver Corp. (EXK) Cut to “Hold” at The Zacks Investment Research

The Endeavour Silver Corp. (EXK) Cut to “Hold” at The Zacks Investment Research

Zacks Investment Research lowered shares of Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) from a buy rating to a hold rating in a research note published on Wednesday morning.

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. “

EXK has been the topic of a number of other research reports. RBC Capital Markets restated a sector perform rating and set a $7.75 target price on shares of Endeavour Silver Corp. in a research note on Friday, September 9th. CIBC restated an underperform rating and set a $6.00 target price (up previously from $5.50) on shares of Endeavour Silver Corp. in a research note on Wednesday, October 5th. TD Securities restated a hold rating and set a $6.50 target price on shares of Endeavour Silver Corp. in a research note on Sunday, November 6th. Canaccord Genuity started coverage on shares of Endeavour Silver Corp. in a research note on Tuesday, October 25th. They set a hold rating on the stock. Finally, National Bank Financial started coverage on shares of Endeavour Silver Corp. in a research note on Thursday, September 8th. They set a sector perform rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $5.11.

Endeavour Silver Corp. (NYSE:EXK) opened at 3.65 on Wednesday. Endeavour Silver Corp. has a 52 week low of $1.00 and a 52 week high of $5.95. The stock’s 50 day moving average price is $4.26 and its 200-day moving average price is $4.42. The company’s market capitalization is $463.84 million.

Endeavour Silver Corp. (NYSE:EXK) last issued its quarterly earnings data on Thursday, November 3rd. The mining company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Endeavour Silver Corp. had a negative net margin of 74.40% and a positive return on equity of 7.83%. On average, equities research analysts predict that Endeavour Silver Corp. will post $0.11 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of 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 in the last quarter. Spark Investment Management LLC boosted its stake in shares of 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 in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Endeavour Silver Corp. during the second quarter valued at about $191,000. CIBC World Markets Inc. acquired a new stake in shares of Endeavour Silver Corp. during the third quarter valued at about $198,000. Finally, LMR Partners LLP acquired a new stake in shares of Endeavour Silver Corp. during the third quarter valued at about $204,000. Institutional investors and hedge funds own 33.31% of the company’s stock.

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.

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