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Endeavour Silver
(TSX:EDR)
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Rating:62Neutral
Price Target:
C$16.50
▲(7.63% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by improving (but still uneven) financial performance—strong revenue and operating cash flow improvements are offset by persistently negative free cash flow and inconsistent net profitability. Technicals add support with a clear uptrend across key moving averages and positive MACD, though momentum indicators are elevated. Valuation is a notable constraint due to the high P/E and no dividend yield support, while the earnings call was net positive on results and liquidity but tempered by higher costs, higher capex, and project execution/permitting risk.
Positive Factors
Production and Revenue Growth
Sharp growth in silver-equivalent production and revenue indicates stronger operating scale and asset contribution. If Terronera and other mines sustain improved grades and throughput, the expanded production base can support higher recurring cash generation.
Negative Factors
Persistent Negative Free Cash Flow
Negative free cash flow means operating cash has not yet covered capital and investment requirements. Continued cash consumption could constrain financial flexibility and increase dependence on liquidity, financing, or stronger future mine performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Production and Revenue Growth
Sharp growth in silver-equivalent production and revenue indicates stronger operating scale and asset contribution. If Terronera and other mines sustain improved grades and throughput, the expanded production base can support higher recurring cash generation.
Read all positive factors
Endeavour Silver (EDR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$4.56B
Dividend YieldN/A
Average Volume (3M)899.47K
Price to Earnings (P/E)48.8
Beta (1Y)3.75
Revenue Growth197.63%
EPS GrowthN/A
CountryCA
Employees2,160
SectorBasic Materials
Sector Strength58
IndustrySilver
Share Statistics
EPS (TTM)0.23
Shares Outstanding296,144,470
10 Day Avg. Volume921,582
30 Day Avg. Volume899,469
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)4.60
Price to Sales (P/S)5.68
P/FCF Ratio-22.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$22.17Price Target Upside44.60% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.76
Revenue Forecast (FY)C$862.41M
Endeavour Silver Business Overview & Revenue Model
Company Description
Endeavour Silver Corp. is a mining company primarily focused on silver, managing the complete lifecycle of mineral properties from acquisition and exploration through development, extraction, processing, refining, and reclamation. Its operations a...
How the Company Makes Money
Endeavour Silver makes money primarily by producing and selling precious metals—mainly silver and gold—from its operating mines. Revenue is generated when mined ore is processed into saleable products (typically concentrates or bullion/doré, depen...
Endeavour Silver Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational momentum (notably large production gains, record revenue, a 300% increase in mine operating cash flow and a healthy cash position plus expected VAT recovery) and material project progress (Kolpa expansion, Terronera ramp-up, Pitarrilla feasibility). Offsetting items include significantly higher AISC and per‑tonne costs due to higher metal prices, purchased ore, royalties and currency/inflation pressure, plus incremental capital brought forward and some permitting/timing risk on Pitarrilla. On balance the positive operational and financial improvements materially outweigh the cost and timing headwinds, while management is investing to secure long-term capacity and growth.Positive Updates
Significant Production Growth
Q2 production: nearly 2.0 million ounces of silver and over 10,000 ounces of gold, totaling ~3.0 million silver-equivalent ounces — a 36% increase vs Q2 2025.
Negative Updates
All-in Sustaining Costs Increased Substantially
Company AISC (net of by-product credits) was $37/oz in the quarter, a 47% increase vs Q2 2025; management attributes higher AISC to increased royalties, purchased material costs, profit sharing and mining taxes driven by higher metal prices.
Read all updates
Q2-2026 Updates
Positive
Negative
Significant Production Growth
Q2 production: nearly 2.0 million ounces of silver and over 10,000 ounces of gold, totaling ~3.0 million silver-equivalent ounces — a 36% increase vs Q2 2025.
Read all positive updates
Company Guidance
Management guided that strong Q2 results — nearly 2.0M oz silver and >10,000 oz gold (≈3.0M oz AgEq, +36% y/y), $212M revenue (+150% y/y), $74M mine operating earnings (vs $7M) and ~$100M mine operating cash flow before taxes (+300% y/y) — provide a solid funding base; Q2 AISC (net of by‑product credits) was $37 (up 47% y/y) and adjusted net earnings were $45M (EPS $0.15). They noted direct operating cost/tonne rose 14% y/y as the peso strengthened, and costs are metal‑price sensitive (per $1/oz Ag: Terronera +$0.90/t, Guanacevi +$3.80/t, Kolpa +$0.50/t). 2026 capital was increased from $157M to $181M (+$18M for Kolpa), Kolpa plant capacity is 2,500 tpd, Pitarrilla feasibility is due end‑Q3 (expected capex ~$500–$600M and a 3,500–4,000 tpd mill), cash was $236M (working capital $214M) plus an expected ~ $70M VAT refund in Q3; silver collars have been unwound, gold hedges remain through June next year, and management expects Terronera grades and recoveries to improve in H2, lowering cost/tonne while Pitarrilla will be the primary use of corporate capital.Endeavour Silver Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
63
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 733.69M | 468.46M | 217.64M | 205.46M | 210.16M | 165.32M |
| Gross Profit | 207.64M | 51.59M | 42.08M | 36.61M | 51.52M | 36.37M |
| EBITDA | 261.37M | 104.70M | 10.03M | 47.86M | 51.83M | 31.55M |
| Net Income | 64.05M | -121.18M | -31.48M | 6.12M | 6.20M | 13.96M |
Balance Sheet | ||||||
| Total Assets | 1.27B | 1.23B | 719.25M | 474.81M | 399.44M | 294.02M |
| Cash, Cash Equivalents and Short-Term Investments | 243.00M | 216.01M | 107.50M | 40.42M | 92.04M | 114.50M |
| Total Debt | 246.40M | 243.46M | 120.86M | 9.53M | 15.58M | 11.49M |
| Total Liabilities | 558.89M | 655.41M | 234.81M | 88.47M | 83.54M | 56.62M |
| Stockholders Equity | 711.24M | 578.05M | 484.44M | 386.34M | 315.89M | 237.41M |
Cash Flow | ||||||
| Free Cash Flow | -40.96M | -116.61M | -176.27M | -106.02M | -54.72M | -30.63M |
| Operating Cash Flow | 99.37M | 55.56M | 19.11M | 11.77M | 54.99M | 23.46M |
| Investing Cash Flow | -109.59M | -244.51M | -183.46M | -108.00M | -111.45M | -38.01M |
| Financing Cash Flow | 197.39M | 308.00M | 236.00M | 48.92M | 36.76M | 56.65M |
Endeavour Silver Technical Analysis
Positive
15.33
Price Trends
12.81
Positive
12.83
Positive
13.62
Positive
Market Momentum
0.74
Positive
58.85
Neutral
74.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EDR, the sentiment is Positive. The current price of 15.33 is above the 20-day moving average (MA) of 14.84, above the 50-day MA of 12.81, and above the 200-day MA of 13.62, indicating a bullish trend. The MACD of 0.74 indicates Positive momentum. The RSI at 58.85 is Neutral, neither overbought nor oversold. The STOCH value of 74.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:EDR.
Endeavour Silver Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$1.72B | 26.87 | 18.43% | ― | 54.43% | 148.97% | |
74 Outperform | C$1.89B | 28.85 | 11.73% | ― | 63.57% | 227.78% | |
62 Neutral | C$4.56B | 48.77 | 10.49% | ― | 197.63% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | C$603.32M | -93.91 | -3.50% | ― | ― | 4.13% | |
47 Neutral | C$2.54B | -36.99 | -104.74% | ― | ― | -40.34% | |
47 Neutral | C$1.57B | -247.20 | -2.93% | ― | ― | -4.92% |
* Basic Materials Sector Average
TSE:EDR
Endeavour Silver
15.40
7.24
88.73%
TSE:ASM
Avino Silver & Gold
10.14
4.36
75.43%
TSE:SLVR
Silver Tiger Metals
1.08
0.30
38.46%
TSE:GGD
GoGold Resources
4.37
1.83
72.05%
TSE:ABRA
AbraSilver Resource
15.80
10.01
172.88%
TSE:NUAG
New Pacific Metals
8.55
5.69
198.95%
Endeavour Silver Corporate Events
Business Operations and Strategy
Endeavour Silver to Restart Operations at Terronera Mine After Blockade Ends
Positive
Aug 23, 2026
Endeavour Silver Corp. has removed a community blockade at its Terronera Mine in Mexico, clearing the way for operations to resume on August 24, 2026 after the disruption. The company is continuing its engagement with the local Ejido community to ...
Business Operations and Strategy
Endeavour Silver Maintains Terronera Mine Suspension Amid Ongoing Community Blockade Talks
Negative
Aug 21, 2026
Endeavour Silver reports that operations at its Terronera mine in Jalisco, Mexico remain temporarily suspended due to an ongoing community blockade, with no material change in status since the initial announcement. Management is in continued, cord...
Business Operations and StrategyLegal Proceedings
Endeavour Silver Halts Terronera Operations After Community Blockade
Negative
Aug 17, 2026
Endeavour Silver has temporarily suspended operations at its Terronera mine in Jalisco, Mexico, following an illegal blockade by members of a nearby Ejido community that began on August 12. The community is pressing for commitments on road mainten...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.