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VANCOUVER - Endeavour Silver Corp. (NYSE: EXK; TSX: EDR), a mid-tier precious metals mining company with a market capitalization of $1.18 billion, announced that at its Annual General Meeting (AGM) held today, shareholders voted in favor of all proposed items. The stock has shown resilience with a 3% gain year-to-date, despite broader market volatility. The meeting saw a 50.23% turnout of outstanding common shares, with over 137 million votes cast or represented by proxy. According to InvestingPro analysis, the company maintains a fair financial health score, with particularly strong momentum metrics that investors should note.
The company reported the re-election of all director nominees, with the majority of votes cast in favor of each. Notably, Margaret M. Beck received the highest approval with 98.83%, while Rex J. McLennan, the Chairman of the Board, received an 82.59% approval rate. The shareholders also agreed to maintain the number of directors at seven, with a 98.50% vote in favor.
In addition to the board elections, shareholders voted 86.58% in favor of re-appointing KPMG LLP as the company’s auditor and granting the board authority to fix the auditor’s remuneration for the upcoming year.
The AGM also marked the retirement of Ricardo Campoy, who served on the board for 14 years. Chairman Rex McLennan expressed gratitude for Campoy’s dedication and contributions, highlighting his role in the company’s progress and wishing him well in retirement.
Endeavour Silver, with operations in Mexico and Peru and a new cornerstone mine under development in Jalisco state, emphasizes sustainable and responsible mining practices. The company also maintains a portfolio of exploration projects across Mexico, Chile, and the United States, aiming to become a premier senior silver producer. Analysts maintain a bullish outlook on the stock, with price targets ranging from $5.10 to $6.56. InvestingPro subscribers can access detailed financial analysis, including comprehensive valuation metrics and growth projections in the Pro Research Report, part of the platform’s coverage of over 1,400 US equities.
This report is based on a press release statement from Endeavour Silver Corporation.
In other recent news, Endeavour Silver Corp. has entered into an agreement to acquire Compañia Minera Kolpa S.A. for $145 million, with an additional $10 million in contingent payments. The acquisition includes the Huachocolpa Uno Mine and is expected to increase Endeavour’s silver production significantly. This transaction will be funded through a combination of cash, common shares, and a new copper purchase agreement. Meanwhile, Silver Lake has completed its acquisition of Endeavor Group Holdings, Inc., taking the company private in a deal valued at $25 billion. This marks a significant move in the media and entertainment sector, with Endeavor’s Class A common stock no longer listed on the NYSE. Additionally, OpenBet has finalized its sale from Endeavor Group Holdings to OB Global Holdings LLC in a management buyout, with Jordan Levin continuing as CEO. Sportradar Group AG has announced its agreement to acquire IMG ARENA from Endeavor, a move expected to boost Sportradar’s global sports coverage. Finally, Endeavor Group has expanded its credit facility to $3 billion, indicating strategic financial planning to enhance its capital structure and liquidity.
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