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Investing.com - Raymond (NSE:RYMD) James has reiterated an Outperform rating and C$7.50 price target on Endeavour Silver Corp (TSE:EDR) (NYSE:EXK) following the company’s second-quarter 2025 production results.
The silver miner reported production of 1.86 million silver equivalent ounces from its Guanacevi and Bolañitos mines in Mexico, slightly below Raymond James’ estimate of 1.97 million ounces due to lower throughput at Bolañitos. For the first half of 2025, the mines produced 2.7 million silver ounces and 16,000 gold ounces.
Endeavour Silver (TSX:EDR)’s 2025 guidance for Guanacevi and Bolañitos remains at 7-7.9 million silver equivalent ounces (4.5-5.2 million silver ounces and 30,500-34,000 gold ounces) at an all-in sustaining cost of $25-$26 per ounce.
The company’s recently acquired Kolpa Mine in Peru has produced 805,000 silver equivalent ounces since the acquisition closed on May 1, which Raymond James had not included in its second-quarter modeling.
Endeavour Silver is also ramping up its Terronera project, with throughput averaging 1,232 tonnes per day in June and increasing to 1,400 tonnes per day in the latter half of the month, with management expecting to reach design capacity in early third-quarter 2025. The project has produced 598 tonnes of concentrate through the end of June, generating $3 million in revenue.
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