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Wednesday, February 26, 2020
Endeavour Silver Corp (EXK)
Lowering Estimates for 2020; Rating Reset to Market Perform
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 fourth quarter and full year earnings. EXK reported a full year net loss of $48.1 million, or ($0.36) per share, compared to our forecast of a loss of $37.8 million, or ($0.28) per share. The company reported a fourth quarter loss of $17.9 million, or ($0.13) per share, compared to our estimate of a loss of $7.6 million, or ($0.05) per share. While revenue exceeded our forecast, cost of sales and expenses were above our estimates.
Updating estimates. We have reduced our 2020 and 2021 EPS estimates to $0.01 and $0.05 from $0.04 and and $0.06, respectively. We forecast 2020 and 2021 EBITDA of $34.1 million and $42.0 million, respectively. Our revised 2020 estimates reflect more gradual operational improvement at the Bolanitos mine 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.