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Endeavour Silver Corp.
EXK Details
Endeavour Silver Corp. (NYSE: EXK) is a mineral exploration and development company based in Canada that evaluates, acquires, explores, develops, and exploits precious metal prospects in Mexico and Chile. The Guanacevi Mine in Durango, the Bolanitos Mine in Guanajuato, and the El Compas Mine in Zacatecas are the company's three silver-gold mines in Mexico. It also owns three exploration projects in northern Chile: the Aida, Paloma, and Cerro Marquez.
Latest News:
Q1FY22 Results:
(Source: Company Filings)
Key Risks:
FY 2022 Outlook:
(Source: Company Filings)
Valuation Methodology: EV/Sales Multiple based Relative Valuation
(Source: Analysis by Kalkine Group)
*% Premium/(Discount) is based on our assessment of the company’s FY1 trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
Stock Recommendation:
EXK’s first quarter performance was strong, putting company on track to achieve our 2022 production guidance. High-grade ore at Guanacevi was a driving force and is expected to continue throughout the balance of the year, while production at Bolanitos remains solid. Furter, elevated commodity prices in Q1FY22 supported company performance and underlying commodity prices are expected to remain elevated in short-term to mid-term which will further bolster the group’s performance in the upcoming quarter.
Considering the correction in stock price, robust top-line, operating improvements, associated risks, and current valuation, we recommend a "Hold" rating on the stock at the closing market price of USD 3.67, as of June 09, 2022.
1 Year Technical Price Chart (as of June 09, 2022). Source: REFINITIV, Analysis by Kalkine Group
Note 1: The reference data in this report has been partly sourced from REFINITIV.
Note 2: Investment decision should be made depending on the investors' appetite on upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting from the stock if the Target Price mentioned as per the valuation has been achieved and subject to the factors discussed above.
Note 3: The report publishing date is as per the Pacific Time Zone.
Disclaimer
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