Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is Endeavour Silver Corp. (CAN) (EXK) A Good Stock To Buy?

Seeing as Endeavour Silver Corp. (CAN) (NYSE:EXK) has faced bearish sentiment from the smart money, it’s easy to see that there was a specific group of fund managers that elected to cut their entire stakes heading into Q4. At the top of the heap, Matthew Hulsizer’s PEAK6 Capital Management dumped the biggest stake of all the hedgies watched by Insider Monkey. Ben Levine, Andrew Manuel and Stefan Renold’s fund, LMR Partners, also said goodbye to its stock. These moves are intriguing to say the least, as total hedge fund interest was cut by 3 funds heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to Endeavour Silver Corp. (CAN) (NYSE:EXK). These stocks are Cytosorbents Corp (NASDAQ:CTSO), CytRx Corporation (NASDAQ:CYTR), Skullcandy Inc (NASDAQ:SKUL), and GulfMark Offshore, Inc. (NYSE:GLF). This group of stocks’ market caps are closest to EXK’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CTSO 4 515 2
CYTR 7 21745 2
SKUL 13 15614 -1
GLF 9 35125 -3

As you can see these stocks had an average of 8.25 hedge funds with bullish positions and the average amount invested in these stocks was $18 million.That figure was $4 millions in EXK’s case. Skullcandy Inc (NASDAQ:SKUL) is the most popular stock in this table. On the other hand Cytosorbents Corp (NASDAQ:CTSO) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Endeavour Silver Corp. (CAN) (NYSE:EXK) is even less popular than CTSO. Considering that hedge funds aren’t fond of this stock, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.