Latest news with #EndeavourSilver
Yahoo
3 days ago
- Business
- Yahoo
Silver mining stocks surge as spot silver hits 13-year high
-- Shares of silver mining companies experienced significant gains today following a surge in spot silver prices, which soared to their highest level in 13 years. Endeavour Silver (NYSE:EXK) led the rally with an 8% increase, closely followed by First Majestic Silver (NYSE:AG), up 7%, and both Hecla Mining and Coeur Mining (NYSE:CDE), which rose 6%. Other notable increases included Pan American Silver (NYSE:PAAS) and AngloGold Ashanti, both climbing 4.5%, Fortuna Mining up 4.4%, Silvercorp Metals (NYSE:SVM) with a 4% gain, Kinross Gold (NYSE:KGC) rising 2%, and Agnico Eagle (NYSE:AEM) Mines advancing 1.75%. The driver behind the uptick in silver mining stocks is the notable surge in spot silver prices, which hit a high of $36.15 an ounce. The precious metal's price jump was attributed to a combination of factors including technical momentum, improving fundamentals, and a growing interest from investors seeking safe-haven assets. Gold and silver often move in tandem, and the past year has seen gold prices increase by 44%, bolstered by an expanding US-led tariff war and consistent buying by central banks. Silver, which has risen approximately 20%, has not kept pace with gold until now. The recent gains in silver are also supported by substantial inflows into silver-backed exchange-traded funds (ETFs). Holdings in these ETFs increased by 2.2 million ounces on Wednesday, according to Bloomberg data. Additionally, money managers have raised their bullish positions on Comex silver futures as of the week ending May 23. Silver's unique position as both a financial asset and an industrial material, particularly in clean-energy technologies like solar panels, contributes to its appeal. Related articles Silver mining stocks surge as spot silver hits 13-year high Mizuho upgrades Visa as it sees decade-long growth from cash-to-card shift HSBC upgrades Dr Reddy's on weight loss drug semaglutide-driven earnings rebound Sign in to access your portfolio
Business Insider
28-05-2025
- Business
- Business Insider
Endeavour Silver files automatic mixed securities shelf
17:23 EDT Endeavour Silver (EXK) files automatic mixed securities shelf Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Yahoo
14-05-2025
- Business
- Yahoo
EXK Reports Break-Even Earnings for Q1, Low Volumes Offset Price Gains
Endeavour Silver Corporation EXK reported break-even earnings per share in the first quarter of 2025. The bottom line, however, missed the Zacks Consensus Estimate of earnings of three cents per share. Including one-time items, EXK reported a loss of 13 cents per share in the first quarter of 2025 compared with a loss of one cent in the first quarter of 2024. Endeavour Silver Corporation price-consensus-eps-surprise-chart | Endeavour Silver Corporation Quote The company's revenues were flat year over year at $64 million as gains from higher prices for silver and gold were offset by lower sales volumes for both. The top line, however, beat the Zacks Consensus Estimate of $61 million. EXK sold 1.22 million ounces of silver in the first quarter (down 30% year over year) and 8,538 ounces of gold (down 22% year over year). The average realized silver price was $31.99 per ounce in the quarter, up 36% year over year. The average realized gold price increased 37% year over year to $2,903 per ounce in the quarter. Endeavour Silver recorded cash costs per silver ounce of $15.89, up 20% from the year-ago quarter. Total production costs per ounce rose 28% year over year to $24.23. All-in-sustaining costs of $24.48 per silver-equivalent ounce marked a 14% rise from the year-ago quarter. EXK reported a mine-operating profit of $12.8 million in the quarter under review compared with $11.7 million in the first quarter of 2024. Adjusted EBITDA was $15.1 million, reflecting a 6% decline from $16.1 million in the year-ago quarter. The company ended the first quarter of 2025 with $64.7 million in cash in hand. Cash generated from operating activities was around $3.36 million compared with $4.58 million in the year-ago quarter. Subsequent to the quarter end, Endeavour Silver completed the acquisition of Compañía Minera Kolpa S.A. and its main asset, the Huachocolpa Uno Mine. The total consideration is $145 million, which comprised $80 million payable in cash and $65 million payable in common shares of Endeavour Silver upon closing. The company has also agreed to pay up to an additional $10 million in contingent payments, payable in cash, upon the occurrence of certain events, and will also add approximately $20 million in net debt, which will remain outstanding and repayable by Minera Kolpa. The company also closed the $35 million copper stream with Versamet Royalties Corp.. This will be used to fund the cash component of the acquisition. Endeavour Silver produced 1.87 million silver equivalent ounces in the first quarter of 2025. This reflected an 18% decrease from the year-ago quarter due to reduced silver production at the Guanaceví mine, which offset higher silver output at Bolañitos. Consolidated silver production was down 17% year over year to 1,205,793 ounces. Meanwhile, EXK's total gold production in the quarter fell 18% to 8,338 ounces. Shares of the company have dipped 7.2% over the past year compared with the industry's 9.9% decline. Image Source: Zacks Investment Research The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. First Majestic Silver Corp. AG reported record revenues of $243.9 million in the first quarter, 130% higher than the year-ago quarter. Adjusted earnings per share were five cents, an improvement from the loss of six cents reported by First Majestic in the first quarter of 2024. First Majestic Silver produced 7.7 million silver equivalent ounces in the first quarter of 2025, which includes 3.7 million silver ounces and 36,469 gold ounces. The silver equivalent ounces produced marked a solid 49% year-over-year increase, attributed to an 88% surge in silver production. Fortuna Mining Corp. FSM reported first-quarter adjusted earnings per share of 20 cents compared with nine cents in the year-ago quarter. The bottom line missed the Zacks Consensus Estimate of 21 cents. Revenues were up 44% year over year to $290 million. Fortuna Mining produced 103,459 gold equivalent ounces in the first quarter of 2025, which marked an 8.1% decrease from the year-ago quarter. This includes a gold production of 91,893 ounces, which increased 2.5% year over year. Avino Silver & Gold Mines Ltd. ASM reported earnings per share of seven cents for first-quarter 2025, which surpassed the Zacks Consensus Estimate of three cents. The company posted earnings of two cents per share in the year-ago quarter. ASM's revenues surged 52% year over year to $18.8 million in the quarter under review. The top line beat the Zacks Consensus Estimate of $18 million. The upside was driven by higher production and realized prices. Avino Silver & Gold Mines produced 678,458 silver equivalent ounces in the first quarter, representing an 8% increase year over year. Silver output was up 6%, gold output rose 25% and copper production increased 19%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Endeavour Silver Corporation (EXK) : Free Stock Analysis Report Fortuna Mining Corp. (FSM) : Free Stock Analysis Report First Majestic Silver Corp. (AG) : Free Stock Analysis Report Avino Silver (ASM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-05-2025
- Business
- Yahoo
Versamet Completes Minera Kolpa Copper Stream Acquisition and Upsizes Revolving Credit Facility
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - Versamet Royalties Corporation ("Versamet" or the "Company") announces that it has completed its previously announced acquisition (the "Acquisition") of a US$35 million copper stream on the Huachocolpa Uno mine ("Kolpa") from Endeavour Silver Corp. and certain of its wholly-owned subsidiaries (collectively "Endeavour Silver"), in conjunction with Endeavour Silver's acquisition of all the outstanding shares of Compañía Minera Kolpa S.A. In connection with completing the Kolpa Acquisition, Versamet has entered into an amending agreement with the Bank of Montreal and the National Bank of Canada to amend and increase the size of the Company's secured Revolving Credit Facility ("RCF") to US$60 million with a US$15 million accordion feature. The new RCF will have a maturity date of April 30, 2028 and includes an approximate 25 basis point reduction to the drawn interest spread, among other changes that will benefit Versamet. Additionally, and contemporaneously with the closing of the RCF, Versamet has fully repaid the convertible loan facility with Beedie Investments Ltd. At the closing of the aforementioned transactions, the drawn balance on the expanded RCF is US$55 million. "Versamet is very happy to partner with Endeavour Silver on this transaction, and we congratulate them on this important step towards becoming a premier senior silver producer," said Dan O'Flaherty, CEO of Versamet. "With Versamet on the cusp of listing its shares on the TSX Venture Exchange, we are excited to add Kolpa and its immediate production to our portfolio, which as a whole is expected to produce between 14,000 and 16,000 gold equivalent ounces in 2026. Additionally, our newly expanded RCF simplifies our capital structure, lowers the Company's overall interest rate and positions us exceptionally well for continued value-enhancing growth." For more information about Versamet Royalties, please visit our website at inquiries email: info@ The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, Vice President of Evaluations for Versamet and a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a Qualified Person as defined in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Versamet uses certain performance measures in its analysis. These non-GAAP performance measures are included in this document because these statistics are key performance measures that management uses to monitor performance to assess how Versamet is performing. These performance measures do not have a standard meaning within IFRS and, therefore, amounts presented may not be comparable to similar data presented by other companies. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking statements regarding: an anticipated listing on the TSX Venture Exchange; Kolpa's immediate and expected production; Versamet's continued value-enhancing growth; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts as well as our expectations with respect to such matters. These forward-looking statements are provided as of the date of this news release, or the effective date of the documents referred to in this news release, as applicable, and reflect predictions, expectations or beliefs regarding future events based on our beliefs at the time the statements were made, as well as various assumptions made by and information currently available to them. In making the forward-looking statements included in this news release, Versamet has applied several material assumptions, including, but not limited to: Versamet's activities will be conducted in accordance with Versamet's public statements and stated goals; there will be no material adverse change affecting Versamet; and Versamet's ability to meet current and future obligations and other assumptions. Although management considers these assumptions to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions expressed above do not occur, but specifically include, without limitation, risks relating to general market conditions. The foregoing list of factors that may affect future results is not exhaustive. Readers should carefully consider the foregoing factors and other uncertainties and potential events. Versamet does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Versamet or on behalf of Versamet, except as required by law. To view the source version of this press release, please visit
