Endeavour Silver Sees Stock Surge Amid Promising Mine Developments
Endeavour Silver (EXK) shares rose by 6.6% in the latest trading session, closing at $5.49. This increase was supported by substantial trading volume, indicating heightened investor interest. Notably, the stock has gained 41.9% over the past month.
Terronera Mine Project Progresses Significantly
The impressive increase in Endeavour Silver’s share price follows news that the Terronera project’s mine development and surface construction have reached 77% completion. To date, more than $258 million has been invested in the project’s budget.
Future Production Projections
Located in Jalisco State, Mexico, the Terronera mine is set to begin commissioning by the end of 2024. Once operational, it is projected to produce 4.0 million ounces of silver and 38,000 ounces of gold per year over a decade. This development is anticipated to double Endeavour Silver’s overall production, thanks to its high-grade resources and low operational costs.
Upcoming Earnings Report Expectations
The silver mining company is expected to release break-even quarterly earnings per share in the upcoming report, reflecting a significant year-over-year change of +100%. Additionally, anticipated revenues are pegged at $55.36 million, marking a 12% increase compared to the same quarter last year.
The Importance of Earnings Estimate Trends
While growth projections for earnings and revenue are critical for assessing a stock’s potential, research highlights a strong link between earnings estimate revisions and short-term stock price movements. For Endeavour Silver, the consensus EPS estimate for this quarter has remained stable over the past 30 days. Historically, a lack of change in earnings estimates can halt stock price momentum, making it crucial to monitor EXK closely for further signs of strength.
Current Stock Rating
The stock currently holds a Zacks Rank #3 (Hold), a signal for cautious investment. You can view the complete list of Zacks Rank #1 (Strong Buy) stocks here >>>>
Industry Comparisons
Endeavour Silver is part of the Zacks Mining – Silver industry. Another notable stock in this sector, Avino Silver (ASM), rose 2.8% to close at $1.49. Over the past month, ASM has gained 31.8%.
Avino Silver’s consensus EPS estimate for its next report has doubled to $0.02 over the past month, reflecting an increase of +100% year-over-year. Avino Silver currently holds a Zacks Rank of #1 (Strong Buy).
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Endeavour Silver Corporation (EXK): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
