Endeavour Silver (NYSE:EXK) Shares Up 7.4% After Strong Earnings

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) shares shot up 7.4% on Wednesday following a stronger than expected earnings report. The company traded as high as $4.80 and last traded at $4.85. 1,888,452 shares were traded during trading, a decline of 79% from the average session volume of 9,203,068 shares. The stock had previously closed at $4.52.

The mining company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $42.20 million for the quarter, compared to analyst estimates of $69.90 million. Endeavour Silver had a negative net margin of 13.04% and a positive return on equity of 0.97%.

Wall Street Analyst Weigh In

EXK has been the topic of several research analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Endeavour Silver in a research note on Wednesday. TD Securities raised shares of Endeavour Silver to a “strong-buy” rating in a report on Monday. StockNews.com raised Endeavour Silver to a “sell” rating in a research report on Friday, February 28th. Finally, HC Wainwright boosted their price target on Endeavour Silver from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Endeavour Silver has an average rating of “Moderate Buy” and an average price target of $6.63.

Hedge Funds Weigh In On Endeavour Silver

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in Endeavour Silver by 52.9% in the fourth quarter. Tidal Investments LLC now owns 11,178,812 shares of the mining company’s stock valued at $40,914,000 after acquiring an additional 3,869,920 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Endeavour Silver by 0.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 10,792,069 shares of the mining company’s stock worth $39,545,000 after acquiring an additional 99,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Endeavour Silver by 122.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,515,836 shares of the mining company’s stock valued at $23,858,000 after purchasing an additional 3,581,936 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Endeavour Silver by 5.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,941,933 shares of the mining company’s stock valued at $21,748,000 after purchasing an additional 288,166 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Endeavour Silver by 268.9% in the 4th quarter. American Century Companies Inc. now owns 2,657,573 shares of the mining company’s stock valued at $9,728,000 after purchasing an additional 1,937,150 shares in the last quarter. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

Endeavour Silver Stock Performance

The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -36.19 and a beta of 1.55. The stock has a 50-day simple moving average of $3.85 and a 200-day simple moving average of $4.03.

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.