Movers and SHAKERS
Endeavour Silver (EXK)(EDR:CA)
Making Good Progress
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.
Third quarter production results. Compared to the prior year period, third quarter silver production declined 0.7% to 942,274 ounces while gold production increased 5.6% to 10,260 ounces. While silver production was below our expectations, gold production modestly exceeded our estimate. Fourth quarter throughput at Guanacevi is expected to reach 1,200 tonnes per day compared with 911 tonnes per day during the third quarter. Additionally, Bolanitos mine performance is expected to benefit from grade improvement. EXK sold 741,263 ounces of silver and 8,998 ounces of gold and ended the quarter with 412,913 ounces of silver and 1,963 ounces of gold bullion in inventory.
Maintaining EPS estimates. We are maintaining our 2020 loss estimate of $(0.08) per share which reflects earnings per share of $0.02 and $0.03 in the third and fourth quarters, respectively. Our 2021 EPS estimate remains $0.16. Our 2020 and 2021 EBITDA estimates did move up modestly to $19.9 million and $70.1 million from $19.5 million and $68.6 million, respectively ...
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.