Endeavour Silver (NYSE:EXK) Shares Down 8% Following Weak Earnings

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) shares dropped 8% on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $12.58 and last traded at $12.7830. Approximately 3,935,330 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 14,871,406 shares. The stock had previously closed at $13.90.

The mining company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Endeavour Silver had a negative return on equity of 1.34% and a negative net margin of 27.52%.The business had revenue of $172.60 million during the quarter, compared to analysts’ expectations of $227.99 million.

Wall Street Analysts Forecast Growth

Several analysts have commented on EXK shares. B. Riley Financial raised their price objective on shares of Endeavour Silver from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Raymond James Financial reissued an “outperform” rating on shares of Endeavour Silver in a research report on Wednesday, January 14th. BMO Capital Markets restated an “outperform” rating on shares of Endeavour Silver in a research report on Monday, January 19th. HC Wainwright increased their price objective on Endeavour Silver from $14.50 to $17.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Endeavour Silver in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $14.50.

Institutional Investors Weigh In On Endeavour Silver

Institutional investors have recently made changes to their positions in the company. Total Investment Management Inc. purchased a new stake in shares of Endeavour Silver during the second quarter valued at $41,000. Caitong International Asset Management Co. Ltd lifted its position in Endeavour Silver by 389.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,583 shares of the mining company’s stock valued at $43,000 after purchasing an additional 3,647 shares in the last quarter. Signaturefd LLC bought a new position in shares of Endeavour Silver during the 4th quarter valued at approximately $47,000. Centric Wealth Management bought a new position in shares of Endeavour Silver in the second quarter worth approximately $60,000. Finally, Andina Capital Management LLC bought a new position in Endeavour Silver in the 3rd quarter worth $89,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.

Endeavour Silver Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.79 and a quick ratio of 0.57. The firm has a 50-day moving average of $11.53 and a 200-day moving average of $8.98. The stock has a market cap of $3.79 billion, a PE ratio of -30.45 and a beta of 1.16.

About Endeavour Silver

Endeavour Silver Corp. is a Vancouver-based precious metals mining company focused on the acquisition, development and operation of silver and gold properties in Mexico. Publicly listed on the New York Stock Exchange under the ticker EXK, the company has positioned itself as a mid-tier producer with a portfolio of high-grade, operating mines and exploration assets in key mineral belts.

Endeavour Silver’s core business activities revolve around four principal underground mines located in the states of Durango, Zacatecas, Guanajuato and Jalisco.