Why Endeavour Silver Shares Are Surging Today

  • Endeavour Silver Corp EDR EXK reported a first-quarter revenue increase of 67% year-over-year to $57.7 million, beating the consensus of $52.76 million.
  • Silver oz sold increased by 176% due to both increased silver production and the sale of the larger finished goods inventory held at December-end.
  • Adjusted EPS was $0.07, above the consensus of $0.05. Mine operating earnings were $20.3 million, up from $5.7 million in 1Q21.
  • EBITDA increased 7% Y/Y to $25.6 million for the quarter. Adjusted EBITDA per share increased to $0.16 from $0.05 in 1Q21.
  • Operating cash flow before working capital changes increase 293% Y/Y to $20.6 million. Mine operating cash flow before taxes increased 101% Y/Y to $26.7 million.
  • Endeavour Silver’s cash position was $151.0 million, and working capital was $168.4 million as of March 31, 2022.
  • The company significantly reduced silver inventory and slightly increased gold inventory during the quarter.
  • Price Action: EXK shares are trading higher by 10.2% at $3.42 on NYSE and EDR higher by 10.15% at C$4.45 on TSX on the last check Wednesday.
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