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Highlights

  • Endeavour Silver Corp’s Terronera Project is 77% complete and on track for initial production in 4Q2024
  • In 3Q2024, the company’s revenue rose 8.1% YoY to USD 53.4 million, driven by higher gold sales
  • Despite operating profit, 3Q2024 net loss widened to USD 17.3 million due to foreign exchange and derivatives
  • For 2025, Endeavour expects silver production between 4.5-5.2 million ounces and gold output of 30,500-34,000 ounces

Endeavour Silver Corp. (TSX:EDR) is a Canadian-based mining firm focused on assessing, acquiring, exploring, developing, and utilizing precious metal assets in Mexico and Chile. The company has a market cap of CAD 1.53 billion.

Financial Update

In the third quarter of 2024 (3Q2024), the company reported revenue of USD 53.4 million, reflecting an 8.1% YoY increase compared to USD 49.4 million in 3Q2023. This growth was driven by higher gold sales volumes, along with a boost from increased realization prices. Operating earnings improved notably, turning from a loss of USD 3.8 million in 3Q2023 to a profit of USD 3.7 million in 3Q2024, primarily due to higher mine operating earnings.

However, earnings before income taxes stood at a loss of USD 13.2 million in 3Q2024, a decline from a gain of USD 0.8 million in the same period last year. This was mainly attributed to a foreign exchange loss and a loss on derivative contracts. As a result, the company posted a net loss of USD 17.3 million in 3Q2024, a notable increase from the net loss of USD 2.3 million in 3Q2023.

Recent Business Update

The company recently announced its total production for 2024. It produced 4,471,824oz of silver and 39,047oz of gold. This resulted in a total silver equivalent (AgEq) output of 7.6 million ounces. In the fourth quarter, production totaled 824,529oz of silver and 9,075oz of gold. This equates to 1.6 million AgEq ounces.

Production guidance

For 2025, the company forecasts silver production to be between 4.5 and 5.2 million ounces, while gold production is projected to fall within the range of 30,500 to 34,000 ounces. This will result in total silver equivalent production ranging from 7.0 to 7.9 million ounces.

Top 10 Shareholders

The top 10 shareholders of Endeavour Silver Corp. collectively own approximately 25.73% of the company’s shares. Van Eck Associates Corporation and Jupiter Asset Management Ltd. hold the largest stakes, at around 8.29% and 4.08%, respectively.

Stock Information

Over the past month, the stock has seen an increase of approximately 10.58%, while experiencing a decline of 8.44% over the last three months. It is currently trading above the average of its 52-week high of CAD 7.87 and its 52-week low of CAD 1.94. As of February 07, 2025, the stock closed at CAD 5.64.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is February 07, 2025. The reference data in this report has been partly sourced from EODHD/Others.