EXK - Endeavour Silver slips following Q4 earnings miss

Endeavour Silver ( NYSE: EXK ) -2.5% in Thursday's trading after Q4 adjusted earnings missed analyst expectations by a wide margin, even as production increased.

Endeavour ( EXK ) swung to a Q4 net profit of $8M from a year-earlier loss of $471K, while revenues surged 69% Y/Y to $82M as sales of silver and gold rose for the period.

The miner said it produced nearly 6M oz of silver and more than 37.5K oz of gold for the full year, for total production of 9M silver equivalent oz, which was 8.7% higher than 8.3M silver equivalent oz in the previous year and ahead of its guidance of 7.6M-8M oz; for Q4, silver equivalent oz jumped 21% Y/Y to hit nearly 2.7M.

FY 2022 revenues totaled $210.2M from the sale of ~6.5M oz of silver and more than 38.8K oz of gold, up from $165.3M in 2021.

Endeavour ( EXK ) said it is continuing to perform due diligence on financing for the Terronera project, and plans to make a formal construction decision in the coming months.

Endeavour Silver ( EXK ) shares have lost nearly 12% so far this year and 38% during the past 12 months .

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