Movers and SHAKERS
Endeavour Silver (EXK)(EDR:CA)
Sale of El Cubo Mine Expected to Close by Month-End
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.
Definitive agreement to sell the El Cubo mine. Recall that in December 2020, Endeavour Silver announced a binding letter agreement to sell its El Cubo mine to VanGold Mining Corp. (OTC, VGLDF, Not Rated) for US$15 million in cash and share payments plus up to an additional US$3.0 million in contingent payments. Endeavour announced the signing of a definitive agreement for which the terms are unchanged. While the transaction was originally expected to close on or before March 17, 2021, management expects the transaction to close by month-end.
Inclusion in stock indices. Endeavour Silver common shares will be added to the S&P/TSX Composite and the NYSE Arca Gold Miners (GDX ETF) Indices after the market close on March 19, 2021. Inclusion in the indices should enhance the equity’s visibility among institutional investors whose funds are aligned with or benchmarked against these indices ...
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.