H.C. Wainwright analyst Heiko Ihle has reiterated their bullish stance on EXK stock, giving a Buy rating yesterday.
Heiko Ihle has given his Buy rating due to a combination of factors influencing Endeavour Silver’s outlook. The company reported a 6% year-over-year increase in revenue for 2024, driven by higher gold and silver spot prices, despite a decrease in silver production. Endeavour Silver maintains a strong balance sheet with significant cash reserves, which positions it well to support ongoing operations and asset development.
Additionally, the progress at the Terronera project is a key factor in the rating. The updated capital cost estimates reflect increased expenditures, but the project is expected to begin full system commissioning soon, potentially contributing to near-term revenue. The valuation of Endeavour Silver remains robust, with a slightly increased price target based on a forward-looking discounted cash flow analysis. The conservative discount rates applied to the company’s main assets, along with the addition of liquid assets and subtraction of debt, support the positive outlook for the stock.
According to TipRanks, Ihle is a 3-star analyst with an average return of 1.5% and a 42.02% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Franco-Nevada, and Drdgold.
In another report released yesterday, TD Securities also maintained a Buy rating on the stock with a C$7.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com