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

Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) was the recipient of a significant decline in short interest in 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 trading volume of 9,160,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 4.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Endeavour Silver

Several large investors have recently made changes to their positions in EXK. Mackenzie Financial Corp increased its position in Endeavour Silver by 995.2% during the 4th quarter. Mackenzie Financial Corp now owns 1,180,945 shares of the mining company’s stock valued at $4,325,000 after buying an additional 1,073,114 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Endeavour Silver during the fourth quarter valued at $543,000. Vident Advisory LLC raised its position in shares of Endeavour Silver by 2.8% in the 4th quarter. Vident Advisory LLC now owns 235,043 shares of the mining company’s stock worth $860,000 after purchasing an additional 6,441 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Endeavour Silver by 26.2% in the 4th quarter. Two Sigma Advisers LP now owns 209,100 shares of the mining company’s stock worth $765,000 after purchasing an additional 43,400 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Endeavour Silver by 88.4% in the 4th quarter. Two Sigma Investments LP now owns 727,762 shares of the mining company’s stock worth $2,664,000 after purchasing an additional 341,468 shares in the last quarter. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

Endeavour Silver Trading Down 4.7 %

NYSE EXK traded down $0.18 during trading on Thursday, hitting $3.58. The company had a trading volume of 12,590,402 shares, compared to its average volume of 6,975,938. The company’s fifty day moving average is $4.10 and its 200-day moving average is $4.17. Endeavour Silver has a one year low of $2.42 and a one year 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. The company has a market cap of $937.81 million, a price-to-earnings ratio of -27.50 and a beta of 1.55.

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

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.