Zacks Investment Research downgraded shares of Endeavour Silver (NYSE:EXK) (TSE:EDR) from a hold rating to a sell rating in a research report released 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. “
Other research analysts have also issued research reports about the company. HC Wainwright set a $6.00 price objective on Endeavour Silver and gave the stock a buy rating in a report on Thursday, November 16th. Noble Financial reissued a buy rating on shares of Endeavour Silver in a report on Wednesday, October 11th. BMO Capital Markets started coverage on Endeavour Silver in a report on Friday, November 17th. They set a market perform rating for the company. Finally, ValuEngine lowered Endeavour Silver from a hold rating to a sell rating in a report on Sunday, December 31st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Endeavour Silver currently has an average rating of Hold and an average price target of $4.94.
Shares of Endeavour Silver (NYSE EXK) traded up $0.13 during midday trading on Wednesday, hitting $2.63. The stock had a trading volume of 1,612,479 shares, compared to its average volume of 1,248,679. Endeavour Silver has a 52 week low of $1.94 and a 52 week high of $4.90. The stock has a market capitalization of $335.21, a price-to-earnings ratio of 131.50 and a beta of -0.15.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in Endeavour Silver by 11.2% in the third quarter. Van ECK Associates Corp now owns 9,370,190 shares of the mining company’s stock worth $22,301,000 after buying an additional 944,317 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its stake in Endeavour Silver by 8.2% in the third quarter. Global X MANAGEMENT CO LLC now owns 1,617,297 shares of the mining company’s stock worth $3,849,000 after buying an additional 122,180 shares in the last quarter. Ninepoint Partners LP purchased a new stake in Endeavour Silver in the third quarter worth approximately $1,924,000. ETF Managers Group LLC purchased a new stake in Endeavour Silver in the second quarter worth approximately $2,361,000. Finally, Goldman Sachs Group Inc. boosted its stake in Endeavour Silver by 666.6% in the second quarter. Goldman Sachs Group Inc. now owns 335,238 shares of the mining company’s stock worth $1,023,000 after buying an additional 291,507 shares in the last quarter. 23.24% of the stock is owned by institutional investors and hedge funds.
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About Endeavour Silver
Endeavour Silver Corp. is engaged in silver mining in Mexico, and related activities, including property acquisition, exploration, development, mineral extraction, processing, refining and reclamation. The Company is engaged in exploration activities in 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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