Market Overview

UPDATE: BMO Capital Downgrades Endeavour Silver to Underperform on Low Silver Prices

Share:

In a report published Monday, BMO Capital Markets analyst Andrew Kaip downgraded the rating on Endeavour Silver Corp. (NYSE: EXK) from Market Perform to Underperform, and lowered the price target from $6.50 to $3.00.

In the report, BMO Capital Markets noted, “BMO Research has ranked 24 proposed silver mines outlined in the report titled: ‘Silver Sector Analysis – Potential New Silver Mines Assessed.' In the report, BMO recommends that investors increase their exposure to low-cost producers with high quality development projects due to the declining precious metal price environment. Despite the positive roll-out of redevelopment activities at El Cubo, the precipitous decline in precious metal prices has strained the EDR valuation and exposed the company's high all-in-costs (recently outlined in the recent analysis entitled ‘What Silver Costs'). EDR is potentially positioned to combat declining metal prices through successful integration of El Cubo, higher production at Bolanitos and exploration at San Sebstian. These drivers could be key catalysts through H2/13.”

Endeavour Silver Corp. closed on Friday at $3.43.

Latest Ratings for EXK

DateFirmActionFromTo
Aug 2019MaintainsBuy
Oct 2018MaintainsBuyBuy
Apr 2017UpgradesMarket PerformOutperform

View More Analyst Ratings for EXK
View the Latest Analyst Ratings

Posted-In: Andrew Kaip BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

Related Articles (EXK)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
NVDACascendMaintains220.0
ADBECleveland ResearchInitiates Coverage On283.0
IMOCiBCUpgrades
RETAJefferiesMaintains254.0
SNAPAreteUpgrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Canaccord Lowers PT on Onyx Pharmaceuticals on Updated Valuation Analysis

UPDATE: Canaccord Lowers PT on BlackBerry Following Disappointing Q1/F2014 Results