Endeavour Silver Corp

Company Overview: Endeavour Silver Corp. (NYSE: EXK) is a Canada-based mid-tier precious metals mining company. The Company's portfolio consists of two producing mines, which are silver/gold mines in Mexico: Guanacevi and Bolanitos; one development project, which is a proposed silver/gold mine that is under construction in Jalisco: Terronera, and five exploration projects located in Mexico, Chile, and United States: Pitarrilla, Parral, Bruner, Aida and Lourdes.

As per our previous US Daily report published on ‘EXK’ on 1^st March 2024, Kalkine provided a ‘Speculative Buy’ stance on the stock at USD 1.47 based on “price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis” and the stock price has now moved by ~83.67% since then and the price has achieved resistance 1 and resistance 2 level.

Noted below are the details of support and resistance levels provided in our previous report:

EXK’s Daily Chart

Considering the resistance around the range of USD 2.80 – USD 3.00, current trading levels, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “EXK” at the closing market price of USD2.70 (as of 04 April 2024).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

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 level is April 04, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’