Monday, May 11, 2020

Endeavour Silver (EXK)(EDR:CA)

Signs of Progress With More Work to Do

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.

EXK reports a first quarter 2020 loss. EXK reported a first quarter net loss of $(15.9) million, or $(0.11) per share, compared to our forecast of a loss of $(5.0) million, or $(0.03) per share. The variance to our estimates were due, in part, to greater exploration expense, a write-down of inventory and losses on foreign exchange.

Updating estimates. We now forecast a 2020 loss of $(0.15) per share and EBITDA of $10.5 million compared to our prior estimates of $(0.06) and $22.5 million. Our 2021 EPS and EBITDA estimates are $0.07 and...

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.