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Volume 4.78M 52wk Range $3.35 - $7.76 ADVANCED MARKET DATA 609 Granville Street Suite 1130, P.O. Box 10328 Vancouver, V7Y 1G5 CAN https:www.edrsilver.com Understand the RISK First Quarter Production Exceeds Expectations Mark Reichman, Senior Research Analyst, Natural Resources - Media Inquiries Fundamental Analysis RatingMarket Perform Refer to the end of the Report for Analyst Certification and Disclosures Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (BD). This report is provided on Channelchek for informational purposes only and should not be used to make investment decisions. BD is not an investment advisor and as such, offers no advice or recommendation to buy or sell any securities. Consult an investment advisor who has a fiduciary responsibility to manage your assets in your best interest and who can help determine investment suitability for you. Refer to Disclosures & Disclaimers for more detail. April 12, 2022 - ANALYST SUMMARY Price as of Publication: $4.97 | Price Target: $0.00 First quarter production ahead of our estimates. Compared to the prior year period, first quarter silver production increased 25% to 1,314,955 ounces, while gold production declined 22% to 8,695 ounces. We had forecast silver and gold production of 1,143,597 ounces and 8,399 ounces, respectively. The company sold 1,717,768 ounces of silver and 8,381 ounces of gold. Payable silver and gold ounces produced amounted to 1,303,540 and 8,549 ounces, respectively. Both Guanacevi and Bolanitos outperformed our forecast due to higher silver grades at both mines and higher gold grades at Guanacevi. Compared to the fourth quarter of 2021, silver and gold production declined 9% and 8%, respectively. At quarter end, Endeavour held 608,788 ounces of silver and 1,911 ounces of gold in bullion inventory and 59,594 ounces of silver and 1,931 ounces of gold in concentrate inventory. Updating estimates. Our 2022 first quarter and full year EPS estimates have been increased to $0.05 and $0.15, respectively, compared to our previous estimates of $0.04 and $0.14. First quarter and full year 2022 EBITDA estimates have been raised to... Read More >>
