Friday, March 03, 2023
Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Fourth quarter and full year 2022 results. Endeavour reported fourth quarter and full year 2022 adjusted earnings per share of $0.04 and $0.04 per share, respectively, compared to fourth quarter and full year 2021 adjusted EPS of $(0.00) and $(0.05). We had forecast fourth quarter and full year EPS of $0.07 per share and $0.10, respectively. Fourth quarter and full year adjusted EBITDA were $23.4 million and $56.5 million, respectively. While revenue was largely in line with our estimates, costs were higher. At year-end, Endeavour held 530,250 ounces of silver and 1,707 ounces of gold in bullion inventory.
Updating estimates. We now forecast 2023 EBITDA and EPS of $59.0 million and $0.09 compared to our previous estimates of $59.2 million and $0.11, respectively. Our estimates are based on silver and gold production of 6.1 million ounces of silver and 38,402 ounces of silver.
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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.
