- Endeavour Silver released its Q3 results last week and reported quarterly production of 1.76 million silver-equivalent ounces, up 2% year-over-year.
- The company reported a material drop in all-in sustaining costs on a year-over-year basis to $17.48/oz, though all-in sustaining costs are still well above the industry average.
- However, due to continued share dilution, Endeavour is one of the only silver miners expected to post a net loss per share in FY2020 despite higher silver prices.
- I continue to see Endeavour Silver as an Avoid in favor of higher-margin producers with larger reserve bases, and I would view any rallies above $5.15 as an opportunity to book some profits.
For further details see:
Endeavour Silver: Valuation No Longer Attractive Relative To Peers