Short Interest in Endeavour Silver Corp. (NYSE:EXK) Decreases By 13.8%

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 12,390,000 shares, a decline of 13.8% from the February 28th total of 14,370,000 shares. Based on an average daily volume of 9,160,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 4.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EXK shares. TD Securities upgraded shares of Endeavour Silver to a “strong-buy” rating in a research note on Monday, March 10th. Alliance Global Partners reissued a “buy” rating on shares of Endeavour Silver in a report on Wednesday, March 12th. Raymond James assumed coverage on shares of Endeavour Silver in a report on Friday, March 21st. They set an “outperform” rating for the company. HC Wainwright lifted their price objective on shares of Endeavour Silver from $7.00 to $7.25 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Finally, StockNews.com upgraded Endeavour Silver to a “sell” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.63.

Endeavour Silver Price Performance

Endeavour Silver stock traded down $0.06 during mid-day trading on Wednesday, reaching $3.73. The company had a trading volume of 6,767,552 shares, compared to its average volume of 6,933,164. The business has a fifty day simple moving average of $4.10 and a 200 day simple moving average of $4.17. The company has a market cap of $977.16 million, a P/E ratio of -28.65 and a beta of 1.55. Endeavour Silver has a fifty-two week low of $2.42 and a fifty-two week high of $5.67. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its earnings results on Tuesday, March 11th. The mining company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Endeavour Silver had a positive return on equity of 0.97% and a negative net margin of 13.04%. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $69.90 million. On average, equities research analysts predict that Endeavour Silver will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Endeavour Silver

Several hedge funds have recently added to or reduced their stakes in EXK. Schroder Investment Management Group acquired a new position in Endeavour Silver in the 4th quarter valued at approximately $36,000. Alpha Cubed Investments LLC bought a new position in Endeavour Silver during the 4th quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Endeavour Silver during the 4th quarter worth about $43,000. Farringdon Capital Ltd. bought a new stake in shares of Endeavour Silver in the 4th quarter valued at about $55,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Endeavour Silver in the fourth quarter valued at about $57,000. 20.06% of the stock is currently owned by institutional investors and hedge funds.

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.