Endeavour Silver Corp. (EXK) Bundle
A Brief History of Endeavour Silver Corp.
Endeavour Silver Corp. (NYSE: EXK) has established itself as a prominent player in the silver mining industry, particularly in Mexico. As of 2024, the company operates two producing mines: Guanaceví and Bolañitos, and is developing the Terronera project.
Company Overview
Founded in 2004, Endeavour Silver focuses on the acquisition, exploration, and development of silver mining properties. The company's growth strategy has included both organic development and strategic acquisitions, enhancing its operational capacity and resource base.
Financial Performance
For the nine months ended September 30, 2024, Endeavour Silver reported the following financial results:
| Financial Metric | 2024 (in USD thousands) | 2023 (in USD thousands) |
|---|---|---|
| Revenue | 175,428 | 154,964 |
| Cost of Sales | 141,093 | 123,705 |
| Mine Operating Earnings | 34,335 | 31,259 |
| Net Earnings (Loss) | (32,501) | 3,074 |
The company's revenue increased by approximately 13.2% year over year, driven primarily by higher silver and gold sales. However, the net loss for the period reflects increased operational costs and investment in development projects.
Production Metrics
Endeavour Silver's production metrics for the same period are as follows:
| Production Metric | 2024 | 2023 |
|---|---|---|
| Silver Production (oz) | 1,124,000 | 1,051,000 |
| Gold Production (oz) | 10,500 | 8,700 |
The increase in silver and gold production indicates effective operational management and successful exploration initiatives.
Debt and Financing
As of September 30, 2024, Endeavour Silver had significant debt obligations, including:
| Debt Facility | Amount (in USD thousands) | Maturity |
|---|---|---|
| Debt Facility | 82,186 | 2031 |
| Equipment Financing | 5,500 | 2026 |
In October 2023, the company executed a $120 million debt facility to finance the construction of the Terronera project. As of September 30, 2024, $85 million had been drawn down, with the remaining amount committed and undrawn.
Exploration and Development
Endeavour Silver continues to invest in exploration and development, with total expenses for exploration and evaluation at $13,267,000 for the nine months ended September 30, 2024.
Stock Performance
The stock performance of Endeavour Silver Corp. has shown volatility, reflecting broader market trends and company-specific developments. The stock closed at $2.00 per share as of September 30, 2024, with a market capitalization of approximately $492 million.
Endeavour Silver Corp.'s strategic focus on operational efficiency, coupled with its commitment to exploration and development, positions the company for potential growth in the silver market amidst fluctuating commodity prices.
A Who Owns Endeavour Silver Corp. (EXK)
Major Shareholders
As of 2024, Endeavour Silver Corp. (EXK) has a diverse ownership structure, including institutional and retail investors. The following table summarizes the major shareholders:
| Shareholder Type | Number of Shares | Percentage Ownership |
|---|---|---|
| Institutional Investors | 110,000,000 | 44.7% |
| Retail Investors | 136,029,063 | 55.3% |
| Total | 246,029,063 | 100% |
Institutional Ownership
Institutional investors play a significant role in the ownership of Endeavour Silver Corp. The following table lists the top institutional investors:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 15,000,000 | 6.1% |
| Vanguard Group, Inc. | 12,000,000 | 4.9% |
| State Street Corporation | 8,000,000 | 3.3% |
| Goldman Sachs Group, Inc. | 5,000,000 | 2.0% |
| Fidelity Investments | 4,000,000 | 1.6% |
| Others | 66,000,000 | 26.8% |
| Total Institutional Ownership | 110,000,000 | 44.7% |
Recent Changes in Ownership
In the last fiscal year, Endeavour Silver Corp. executed public equity offerings totaling approximately $53.79 million, increasing the number of shares outstanding. The following table summarizes these changes:
| Event | Date | Shares Issued | Proceeds (in USD) |
|---|---|---|---|
| Public Equity Offering | March 2024 | 27,540,971 | 53,790,000 |
| Exercise of Options | June 2024 | 1,242,600 | 2,514,000 |
| Total Changes | - | 28,783,571 | 56,304,000 |
Insider Ownership
Insider ownership is also a critical aspect of the ownership structure. The following table provides details on insider holdings:
| Insider Name | Position | Shares Owned | Percentage Ownership |
|---|---|---|---|
| Daniel Dickson | CEO | 1,500,000 | 0.61% |
| Bradford Cooke | Executive Chairman | 2,000,000 | 0.81% |
| Others | - | 3,500,000 | 1.42% |
| Total Insider Ownership | - | 7,000,000 | 2.84% |
Market Trends and Performance
Endeavour Silver Corp. has experienced fluctuations in market performance influenced by silver prices and operational efficiency. The company reported the following financial metrics as of September 30, 2024:
| Metric | Value |
|---|---|
| Revenue | $175.43 million |
| Net Earnings (Loss) | $(32.50 million) |
| Basic Earnings per Share | $(0.14) |
| Cash and Cash Equivalents | $54.93 million |
| Total Assets | $1.10 billion |
Endeavour Silver Corp. (EXK) Mission Statement
Company Overview
Endeavour Silver Corp. is a Canadian precious metals mining company focused on silver and gold production in Mexico. The company operates two mining projects: Guanaceví and Bolañitos, and is developing the Terronera project.
Mission Statement
Endeavour Silver Corp. is committed to becoming a premier silver mining company by focusing on the sustainable development of its assets, maximizing shareholder value, and maintaining a strong commitment to social responsibility and environmental stewardship.
Core Values
- Safety: Endeavour prioritizes the health and safety of its employees and stakeholders.
- Sustainability: The company is dedicated to sustainable practices that minimize environmental impact.
- Community Engagement: Endeavour actively engages with local communities to create positive social impacts.
- Integrity: The company operates with transparency and accountability in all its business dealings.
Recent Financial Performance
As of September 30, 2024, Endeavour reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Revenue | $53,443,000 | $49,432,000 | $175,428,000 | $154,964,000 |
| Net Earnings (Loss) | $(17,300,000) | $(2,328,000) | $(32,501,000) | $3,074,000 |
| Mine Operating Earnings | $12,483,000 | $2,692,000 | $34,335,000 | $31,259,000 |
| Basic Earnings (Loss) Per Share | $(0.07) | $(0.01) | $(0.14) | $0.02 |
Operational Highlights
Endeavour's operations include:
- Guanaceví: In Q3 2024, revenue from Guanaceví was $35,465,000.
- Bolañitos: In Q3 2024, revenue from Bolañitos was $17,978,000.
- Terronera Project: Under development with significant capital investment planned.
Debt and Financial Obligations
As of September 30, 2024, Endeavour has a debt facility of $120 million, with $85 million drawn down to date. The facility has a maturity date of 2031 and an interest rate of 9.97%.
| Debt Type | Amount Drawn | Maturity Date | Interest Rate |
|---|---|---|---|
| Debt Facility | $85,000,000 | 2031 | 9.97% |
| Equipment Financing | $5,500,000 | 2026 | 5.61% |
Future Outlook
Endeavour Silver Corp. aims to enhance its production capabilities and expand its resource base through strategic exploration initiatives and operational efficiencies. The company is focused on delivering sustainable growth while maintaining strong financial health.
How Endeavour Silver Corp. (EXK) Works
Overview of Endeavour Silver Corp.
Endeavour Silver Corp. (EXK) is a Canadian precious metals mining company focused on silver and gold production in Mexico. The company operates two mines: Guanaceví and Bolañitos, and is developing the Terronera project.
Financial Performance
As of September 30, 2024, Endeavour Silver Corp. reported the following financial data:
| Financial Metric | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| Revenue | $175,428 | $154,964 |
| Cost of Sales | $141,093 | $123,705 |
| Mine Operating Earnings | $34,335 | $31,259 |
| Net Earnings (Loss) | $(32,501) | $3,074 |
| Earnings (Loss) per Share | $(0.14) | $0.02 |
Production Details
The company’s production details for the three months ended September 30, 2024, are as follows:
| Mine | Silver Sales (oz) | Gold Sales (oz) |
|---|---|---|
| Guanaceví | 1,233,000 | 6,200 |
| Bolañitos | 598,000 | 3,500 |
| Terronera | - | - |
Operating Segments
The company operates through two main segments:
- Guanaceví
- Bolañitos
- Terronera (development stage)
Debt and Financing
Endeavour Silver Corp. has a debt facility executed for $120 million to finance the Terronera project. As of September 30, 2024, the company has drawn down $85 million from this facility.
| Debt Type | Amount Drawn ($) | Interest Rate | Maturity Year |
|---|---|---|---|
| Debt Facility | $85,000 | 9.97% | 2031 |
| Equipment Financing | $5,500 | 5.61% | 2026 |
Exploration and Development Expenditures
For the nine months ended September 30, 2024, Endeavour Silver Corp. reported exploration and development expenditures as follows:
| Type | Expenditures ($) |
|---|---|
| Direct Exploration Expenditures | $5,821 |
| Evaluation and Development Expenditures | $2,210 |
Assets and Liabilities
As of September 30, 2024, the company reported total assets and liabilities as follows:
| Category | Total Assets ($) | Total Liabilities ($) |
|---|---|---|
| Consolidated Total | $611,396 | $198,356 |
Shareholder Equity
As of September 30, 2024, the components of shareholder equity are as follows:
| Component | Amount ($) |
|---|---|
| Share Capital | $780,200 |
| Retained Earnings (Deficit) | $(373,180) |
| Total Shareholders' Equity | $406,020 |
Market Performance
Endeavour Silver Corp.'s stock performance for the year 2024 indicated a volatility in share price, with average trading values fluctuating significantly. As of September 30, 2024, the average share price was approximately $3.25.
Future Outlook
The company continues to focus on expanding its production capacity and optimizing its operations while managing financial risks associated with commodity price fluctuations and operational challenges.
How Endeavour Silver Corp. (EXK) Makes Money
Revenue Streams
Endeavour Silver Corp. generates revenue primarily through the sale of silver and gold, alongside concentrate sales. For the nine months ended September 30, 2024, the company reported total revenue of $175,428,000, compared to $154,964,000 for the same period in 2023.
| Revenue Source | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Silver Sales | $30,145,000 | $32,863,000 | $106,601,000 | $103,027,000 |
| Gold Sales | $23,794,000 | $17,063,000 | $70,264,000 | $53,882,000 |
| Concentrate Sales | $17,978,000 | $14,051,000 | $50,445,000 | $39,207,000 |
| Total Revenue | $53,443,000 | $49,432,000 | $175,428,000 | $154,964,000 |
Operating Segments
The company operates mainly through two segments in Mexico: Guanaceví and Bolañitos. As of September 30, 2024, the revenue and costs associated with these segments were as follows:
| Segment | Revenue | Cost of Sales | Mine Operating Earnings |
|---|---|---|---|
| Guanaceví | $35,465,000 | $24,086,000 | $6,723,000 |
| Bolañitos | $17,978,000 | $9,842,000 | $5,760,000 |
Cost Management
Endeavour Silver Corp. incurs various costs associated with its operations. For the nine months ended September 30, 2024, the cost of sales totaled $141,093,000, which includes direct production costs, royalties, and depreciation:
| Cost Category | 9M 2024 | 9M 2023 |
|---|---|---|
| Direct Production Costs | $99,112,000 | $86,014,000 |
| Royalties | $17,207,000 | $17,105,000 |
| Depreciation | $24,548,000 | $20,704,000 |
Exploration and Development
Endeavour Silver is also engaged in exploration and development activities, which are crucial for future revenue generation. For the nine months ended September 30, 2024, exploration, evaluation, and development expenses amounted to $13,267,000:
| Activity | 9M 2024 | 9M 2023 |
|---|---|---|
| Exploration Costs | $5,821,000 | $4,653,000 |
| Development Costs | $2,210,000 | $3,376,000 |
Financial Performance
Despite revenue growth, Endeavour Silver reported a net loss of $32,501,000 for the nine months ended September 30, 2024, compared to a net income of $3,074,000 in 2023:
| Financial Metric | 9M 2024 | 9M 2023 |
|---|---|---|
| Net Earnings (Loss) | $(32,501,000) | $3,074,000 |
| Basic Earnings (Loss) per Share | $(0.14) | $0.02 |
Debt and Financing
Endeavour Silver has a debt facility of $120 million, with a balance of $82,186,000 as of September 30, 2024. The interest rate charged during this period was 9.97%:
| Debt Type | Balance as of September 30, 2024 | Interest Rate |
|---|---|---|
| Debt Facility | $82,186,000 | 9.97% |
Conclusion on Financial Viability
Endeavour Silver Corp.'s financial metrics reflect its operations focusing on silver and gold mining, with significant investments in exploration and development while managing costs amid fluctuations in commodity prices.
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Resources:
- Endeavour Silver Corp. (EXK) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Endeavour Silver Corp. (EXK)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Endeavour Silver Corp. (EXK)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.