Endeavour Silver (NYSE:EXK) Lifted to “Hold” at Zacks Investment Research

Endeavour Silver (NYSE:EXK) (TSE:EDR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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. “

Several other brokerages also recently commented on EXK. HC Wainwright upped their price target on shares of Endeavour Silver from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 10th. CIBC reduced their price target on shares of Endeavour Silver from C$8.25 to C$8.00 and set a “neutral” rating for the company in a research report on Wednesday, November 10th. Roth Capital reduced their price target on shares of Endeavour Silver from $6.50 to $6.25 and set a “buy” rating for the company in a research report on Tuesday, September 14th. TD Securities cut their target price on shares of Endeavour Silver from C$8.00 to C$7.00 and set a “hold” rating for the company in a research report on Wednesday, August 11th. Finally, BMO Capital Markets increased their target price on shares of Endeavour Silver from C$5.25 to C$6.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.98.

EXK stock traded down $0.05 on Thursday, hitting $5.10. 1,752,594 shares of the company’s stock traded hands, compared to its average volume of 3,414,831. The company has a current ratio of 4.97, a quick ratio of 4.03 and a debt-to-equity ratio of 0.02. The stock has a market cap of $869.35 million, a price-to-earnings ratio of 24.29 and a beta of 1.40. Endeavour Silver has a 1-year low of $3.25 and a 1-year high of $7.76. The stock has a fifty day moving average of $4.82 and a 200-day moving average of $5.37.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its quarterly earnings results on Monday, November 8th. The mining company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). The firm had revenue of $34.56 million during the quarter, compared to analysts’ expectations of $40.63 million. Endeavour Silver had a net margin of 19.34% and a return on equity of 5.55%. On average, equities research analysts anticipate that Endeavour Silver will post 0.05 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in EXK. Geode Capital Management LLC increased its stake in shares of Endeavour Silver by 24.3% during the 1st quarter. Geode Capital Management LLC now owns 38,654 shares of the mining company’s stock worth $191,000 after purchasing an additional 7,560 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Endeavour Silver by 28.7% during the 1st quarter. Royal Bank of Canada now owns 7,082 shares of the mining company’s stock worth $35,000 after purchasing an additional 1,581 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Endeavour Silver by 1,470.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 192,769 shares of the mining company’s stock worth $956,000 after purchasing an additional 180,497 shares during the last quarter. Morgan Stanley increased its stake in shares of Endeavour Silver by 26.0% during the 1st quarter. Morgan Stanley now owns 1,040,543 shares of the mining company’s stock worth $5,161,000 after purchasing an additional 214,409 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Endeavour Silver during the 1st quarter worth $2,997,000. Institutional investors own 26.02% of the company’s stock.

About Endeavour Silver

Endeavour Silver Corp. operates as a mineral company. It engages in the evaluation, acquisition, exploration, development and exploitation of precious metal properties in Mexico and Chile. The firm’s projects include Terronera property in Jalisco, El Compas property, Guanacevi Mine in Durango, Bolanitos Mines in Guanajuato, and Parral project in Chihuahua, Mexico.

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