Endeavour Silver Corp. (NYSE:EXK) Sees Large Drop in Short Interest

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 11,360,000 shares, a drop of 7.2% from the November 30th total of 12,240,000 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average trading volume of 6,060,000 shares, the short-interest ratio is presently 1.9 days.

Institutional Trading of Endeavour Silver

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. acquired a new stake in Endeavour Silver in the second quarter valued at $589,000. Quest Partners LLC acquired a new stake in shares of Endeavour Silver in the third quarter valued at about $964,000. Van ECK Associates Corp raised its position in shares of Endeavour Silver by 2.7% during the third quarter. Van ECK Associates Corp now owns 25,125,455 shares of the mining company’s stock worth $98,994,000 after acquiring an additional 658,215 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Endeavour Silver by 5,735.0% in the second quarter. National Bank of Canada FI now owns 438,794 shares of the mining company’s stock worth $1,522,000 after acquiring an additional 431,274 shares during the period. Finally, U S Global Investors Inc. bought a new stake in Endeavour Silver in the third quarter valued at approximately $1,382,000. 20.06% of the stock is currently owned by institutional investors.

Endeavour Silver Price Performance

Shares of EXK stock traded up $0.10 during trading hours on Wednesday, reaching $3.66. The company’s stock had a trading volume of 6,599,645 shares, compared to its average volume of 5,586,919. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Endeavour Silver has a fifty-two week low of $1.42 and a fifty-two week high of $5.67. The company has a market capitalization of $960.09 million, a price-to-earnings ratio of -28.15 and a beta of 1.62. The firm’s 50 day simple moving average is $4.36 and its 200-day simple moving average is $4.01.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its earnings results on Tuesday, November 5th. The mining company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Endeavour Silver had a positive return on equity of 0.97% and a negative net margin of 13.04%. The firm had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $54.91 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Endeavour Silver will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on EXK shares. HC Wainwright reiterated a “buy” rating and set a $7.25 price objective on shares of Endeavour Silver in a research report on Wednesday, December 18th. TD Securities started coverage on shares of Endeavour Silver in a report on Friday, November 29th. They set a “buy” rating on the stock. Alliance Global Partners boosted their price target on Endeavour Silver from $5.25 to $6.25 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Ventum Cap Mkts raised Endeavour Silver to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, StockNews.com raised Endeavour Silver to a “sell” rating in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Endeavour Silver presently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

About Endeavour Silver

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.