The stock of Endeavour Silver Corp (TSE:EDR) gapped up by $0.17 today and has $9.47 target or 53.00% above today’s $6.19 share price. The 6 months technical chart setup indicates low risk for the $810.77 million company. The gap was reported on Nov, 1 by Barchart.com. If the $9.47 price target is reached, the company will be worth $429.71M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 393,498 shares traded hands. Endeavour Silver Corp (TSE:EDR) has risen 88.78% since March 28, 2016 and is uptrending. It has outperformed by 85.77% the S&P500.
Endeavour Silver Corp (TSE:EDR) Ratings Coverage
Out of 4 analysts covering Endeavour Silver Corp. (TSE:EDR), 1 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 25% are positive. $6.75 is the highest target while $1.45 is the lowest. The $3.78 average target is -38.93% below today’s ($6.19) stock price. Endeavour Silver Corp. has been the topic of 12 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Tuesday, July 21, the company rating was downgraded by TD Securities. The firm has “Hold” rating by Canaccord Genuity given on Tuesday, October 25. On Thursday, October 29 the stock rating was initiated by Ringler Research with “Outperform”. As per Tuesday, February 23, the company rating was downgraded by IBC.
More important recent Endeavour Silver Corp (TSE:EDR) news were published by: Marketwired.com which released: “Endeavour Silver Completes Acquisition of Parral Properties from Silver Standard” on November 01, 2016, also Reuters.com published article titled: “BRIEF-Endeavour Silver Corp reports Q3 silver and gold production”, Seekingalpha.com published: “Endeavour Silver Propelled Higher By Spectacular Test Results” on April 21, 2016. More interesting news about Endeavour Silver Corp (TSE:EDR) was released by: Streetinsider.com and their article: “Form 6-K ENDEAVOUR SILVER CORP For: Oct 24” with publication date: October 24, 2016.
Endeavour Silver Corp. is a mineral firm engaged in the evaluation, acquisition, exploration, development and exploitation of metal properties in Mexico and Chile. The company has a market cap of $810.77 million. The Company’s operating mining divisions include Guanacevi, Bolanitos and El Cubo, which are located in Mexico, as well as Exploration and Corporate divisions. It currently has negative earnings. The Company’s producing mines include Guanacevi Mine, which is located over 260 kilometers northwest of the city of Durango, Mexico; Bolanitos Mine, which is located over 10 kilometers northwest of the city of Guanajuato, Mexico, and El Cubo Mine, which is located over 10 kilometers southeast of the city of Guanajuato.
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