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Thursday October 10, 2019
Endeavour Silver (EXK)
Still In Turnaround Mode; Visible Path for Improvement
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, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- EXK reports third quarter production results. Compared to the prior year period, third quarter silver and gold production declined 33.6% and 25.1% to 948,547 ounces and 9,716 ounces, respectively. Although partially offset by greater production at the Guanacevi and El Compas mines, the declines were attributed to lower planned production at the El Cubo mine and lower throughput and grades from Bolanitos. Compared to the second quarter of 2019, third quarter silver production declined 10.5%, while gold production increased 1.7%. Third quarter production came in below our estimates, mainly with respect to silver production.
- Updating estimates. While we are making no changes to our 2020 estimates, we are lowering our 2019 EPS estimate to reflect a loss of…
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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 full report.
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