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VANCOUVER - Endeavour Silver Corp . (NYSE:EXK) reported fourth quarter earnings that beat analyst estimates, sending shares soaring 23.9% in Tuesday trading.
The precious metals miner posted adjusted earnings of $0.02 per share in Q4, compared to analyst expectations for a loss of $0.01 per share. Revenue came in at $42.2 million, below the consensus estimate of $48.62 million.
Endeavour produced 824,529 ounces of silver and 9,075 ounces of gold in the fourth quarter, down 41% and 6% respectively from the same period last year. The company said production was impacted by a trunnion failure at its Guanacevi mine that affected mill throughput from August to December.
For the full year 2024, Endeavour reported revenue of $217.6 million, up 6% YoY. The company produced 4.47 million ounces of silver and 39,047 ounces of gold, hitting the higher end of its revised 2024 guidance.
"The Company achieved strong financial results in 2024, maintaining a solid balance sheet," said CEO Dan Dickson. "Higher realized prices fueled robust revenue, with mine operating cash flow reaching $72.3 million."
Endeavour ended the year with a cash position of $106.4 million and working capital of $78.8 million. The company said its Terronera project is nearing completion at 89.4% progress, with wet commissioning expected in early Q2 2025.
Despite lower production, investors cheered the earnings beat and positive outlook, sending Endeavour shares sharply higher. The stock was up 23.9% in trading following the results.
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