Movers and SHAKERS
Endeavour Silver (EXK)(EDR:CA)
Improved Economics of the Proposed Terronera Mine Enhance the Longer-Term Outlook
As of April 24, 2020, Noble Capital Markets research on Endeavour Silver is published under ticker symbols (EXK and EDR:CA). The price target is in USD and based on ticker symbol EXK. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. The company is organized into four operating mining segments, Guanacevi, Bolanitos, El Cubo, and El Compas, which are located in Mexico as well as Exploration and Corporate segments. Its Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Updating estimates. While our EPS estimates are unchanged, we have trimmed our 2021 EBITDA forecast to $45.4 million from $47.5 million based on modestly lower silver and gold prices. For 2022, we have increased our EPS and EBITDA estimate to $0.20 and $79.2 million from $0.18 and $75.5 million, respectively, based on an improved operating cost structure.
Terronera feasibility study. Endeavour recently reported the results of a feasibility study for Terronera which is expected to become Endeavour’s largest and lowest cost mine. Over a 12-year mine life, Terronera is expected to produce an average of 3.3 million and 33 thousand ounces of silver and gold per year, respectively. Initial capital expenditures are expected to be $175 million. For ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.