Wednesday, August 5, 2020
Endeavour Silver (EXK)(EDR:CA)
Better Than Expected 2Q Results; Increasing 2021 Estimates
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.
Better than expected results. EXK reported a second quarter loss of $3.3 million, or $(0.02) per share compared to a loss of $10.1 million, or $(0.08) per share, during the prior year period and our loss estimate of $9.0 million, or $(0.06) per share. The variance to our estimate was due, in part, to lower operating costs. Second quarter results were negatively impacted by the temporary suspension of mining operations in Mexico due government-mandated work restrictions. Adjusted EBITDA amounted to $2.1 million compared with $(1.9) million during the prior year period.
Updating estimates. We have narrowed our 2020 loss estimate to $(0.08) from $(0.11) per share and increased our 2021 EPS estimate to $0.16 from $0.11 per share. The revisions to our estimates reflect higher silver and gold prices and improved …
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