Movers and SHAKERS
Endeavour Silver (EXK)(EDR:CA)
Estimates Lowered Following First Quarter Financial Results
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.
First quarter 2021 results. Endeavour reported first quarter 2021 net income of $12.2 million, or $0.07 per share, compared to a loss of $15.9 million, or $(0.11) per share during the prior year period. Excluding the impairment reversal of non-current assets, the company generated a loss of $4.5 million, or $(0.03) per share. We had projected net income of $2.5 million or $0.02 per share. The variance to our estimate was attributed to higher direct production and exploration and evaluation expense. Adjusted EBITDA were $8.3 million compared to $(6.0) million during the prior year period and our estimate of $13.1 million. The company ended the quarter with 523,235 ounces of silver and 1,123 ounces of gold in bullion inventory and 6,582 ounces of silver and 566 ounces of gold in concentrate inventory.
Commentary on costs. All in sustaining costs per ounce increased 8.5%, while direct costs per tonne increased 24.2%, respectively. All-in sustaining costs were impacted by higher corporate general and administrative costs and greater capital expenditures at Guanacevi. Direct operating costs were impacted by increased labor costs and greater royalties and special mining duties compared to the prior ...
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*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.