why Endeavour Silver Corp. [EXK] is a Good Choice for Investors After New Price Target of $5.56

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Endeavour Silver Corp. [NYSE: EXK] price surged by 4.35 percent to reach at $0.13. The company report on July 6, 2022 that Endeavour Silver Announces Completion of Pitarrilla Acquisition.


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Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce the successful completion of its acquisition of the Pitarrilla Project (“Pitarrilla”) from SSR Mining Inc. (NASDAQ/TSX: SSRM; ASX: SSR) (“SSR Mining”). Pitarrilla, one of the largest undeveloped silver deposits in the world1, is located 160 kilometres north of Durango City, in northern Mexico. Pitarrilla comprises 4,950 hectares across five concessions and has significant infrastructure in place with direct access to utilities. All references to dollars ($) in this news release are to United States dollars.

“The addition of the Pitarrilla project elevates our portfolio as a leading mid-tier silver producer with high quality silver exposure and significant growth,” said Dan Dickson, Endeavour’s CEO. “We look forward to bringing our regional expertise to generate long-term value for our shareholders. Our immediate goal is to verify all historical data to prepare a current mineral resource estimate, drill high priority exploration targets, and further define regional targets. The transition process has already begun, and we look forward to building on the successes achieved by SSR Mining.”.

A sum of 2833387 shares traded at recent session while its average daily volume was at 3.52M shares. Endeavour Silver Corp. shares reached a high of $3.205 and dropped to a low of $3.02 until finishing in the latest session at $3.12.

The one-year EXK stock forecast points to a potential upside of 43.88. The average equity rating for EXK stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Endeavour Silver Corp. [EXK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EXK shares is $5.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EXK stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Endeavour Silver Corp. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on March 22, 2022. The new note on the price target was released on September 16, 2020, representing the official price target for Endeavour Silver Corp. stock. Previously, the target price had yet another raise to $4.75, while B. Riley FBR analysts kept a Buy rating on EXK stock.

The Average True Range (ATR) for Endeavour Silver Corp. is set at 0.25, with the Price to Sales ratio for EXK stock in the period of the last 12 months amounting to 2.86. The Price to Book ratio for the last quarter was 1.84, with the Price to Cash per share for the same quarter was set at 0.95.

EXK Stock Performance Analysis:

Endeavour Silver Corp. [EXK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.17. With this latest performance, EXK shares dropped by -19.17% in over the last four-week period, additionally sinking by -25.18% over the last 6 months – not to mention a drop of -46.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EXK stock in for the last two-week period is set at 41.20, with the RSI for the last a single of trading hit 40.11, and the three-weeks RSI is set at 42.11 for Endeavour Silver Corp. [EXK]. The present Moving Average for the last 50 days of trading for this stock 3.56, while it was recorded at 3.11 for the last single week of trading, and 4.31 for the last 200 days.

Insight into Endeavour Silver Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Endeavour Silver Corp. [EXK] shares currently have an operating margin of +5.02 and a Gross Margin at +11.00. Endeavour Silver Corp.’s Net Margin is presently recorded at +8.43.

Return on Equity for this stock inclined to 6.96, with Return on Assets sitting at 5.47.

Endeavour Silver Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 5.10.

Endeavour Silver Corp. [EXK] Insider Position Details

There are presently around $152 million, or 26.40% of EXK stock, in the hands of institutional investors. The top three institutional holders of EXK stocks are: VAN ECK ASSOCIATES CORP with ownership of 17,949,105, which is approximately 6.435% of the company’s market cap and around 2.40% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 7,619,444 shares of the stock with an approximate value of $23.77 million in EXK stocks shares; and JUPITER ASSET MANAGEMENT LTD, currently with $16.52 million in EXK stock with ownership of nearly 10.276% of the company’s market capitalization.

Positions in Endeavour Silver Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 53 institutional holders increased their position in Endeavour Silver Corp. [NYSE:EXK] by around 10,394,485 shares. Additionally, 42 investors decreased positions by around 4,178,887 shares, while 29 investors held positions by with 34,220,526 shares. The mentioned changes placed institutional holdings at 48,793,898 shares, according to the latest SEC report filing. EXK stock had 12 new institutional investments in for a total of 339,580 shares, while 13 institutional investors sold positions of 1,561,929 shares during the same period.

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