Movers and SHAKERS
Monday, January 13, 2020
Endeavor Silver (EXK)
Guanacevi and Bolanitos Mines Expected to Drive 2020 Production Growth
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. It is also involved in exploration activities in Chile. The company is organized into three operating mining segments, Guanacevi, Bolanitos and El Cubo, which are located in Mexico as well as Exploration and Corporate segments. The 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 fourth quarter 2019 production results. EXK reports fourth quarter 2019 production results. Compared to the prior year period, fourth quarter silver and gold production declined 32.2% and 27.0% to 939,511 ounces and 9,578 ounces, respectively. Although partially offset by greater production at the Guanacevi and El Compas mines, the declines were attributed to the suspension of mining operations at the El Cubo mine and lower throughput and grades at Bolanitos. Compared to the third quarter of 2019, fourth quarter silver and gold production declined 1.0% and 1.4%, respectively.
Updating estimates. While we are making no changes to our 2020 estimates, we are lowering our 2019 EPS estimate to a loss of ($0.28) versus our prior estimate of ($0.26). The revision reflects modestly lower-than-expected production in the fourth quarter 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.