Endeavour Silver Corp (EXK) PT Raised to $7.25 at H.C. Wainwright

H.C. Wainwright analyst Heiko Ihle raised the price target on Endeavour Silver Corp (NYSE: EXK) to $7.25 (from $7.00) while maintaining a Buy rating.

The analyst commented: "During the year, the company recorded $217.6M in revenue, which yielded a net loss of $31.5M, or ($0.13) per share. This compares to 2023 revenue of $205.5M and net income of $6.1M, or $0.03 per share. We emphasize that EXK's 6% YoY increase in revenue was driven by average realized gold and silver spot prices climbing 22% and 15%, respectively. Notably, this favorable impact was partially offset by a 21% decrease of silver production that provided for an 18% decrease in silver ounces sold. The firm’s net loss was also significantly affected by a foreign exchange loss of $5.5M, and further exacerbated by a derivative liabilities loss of $30.6M. Overall, however, EXK maintains a strong balance sheet and presently holds $106.4M of cash and cash equivalents. The company also has a working capital balance of $78.8M. In short, we believe Endeavour remains well-funded to support its operations and further advance its asset base. We are reiterating our Buy rating on Endeavour as we slightly increase our PT to $7.25 from $7.00. The raised PT is based on moving our DCF models forward to account for the start of EXK's next fiscal year."

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