Analyst Kevin O’Halloran from BMO Capital maintained a Buy rating on Endeavour Silver and keeping the price target at C$15.00.
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Kevin O’Halloran has given his Buy rating due to a combination of factors that highlight Endeavour Silver’s strategic financial maneuvers and growth prospects. The company has announced a $300 million convertible note offering, with an additional $50 million option, which is set to enhance its financial flexibility by repaying existing debt and advancing the Pitarrilla project. This move positions Endeavour Silver to capitalize on its growth opportunities, particularly with the Terronera mine now in production and the potential development of the Pitarrilla project.
Endeavour Silver’s financial strategy is further supported by its strong cash position, which is bolstered by the expected proceeds from the convertible offering and the divestment of the Bolañitos mine. The company is well-positioned to execute on its core silver assets, with ongoing expansion opportunities at the Kolpa mine and the ramp-up at Terronera. These factors, combined with the company’s peer-leading silver exposure and potential for long-term growth, underpin O’Halloran’s Buy rating.
O’Halloran covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Fortuna Mining Corp, and Aya Gold & Silver. According to TipRanks, O’Halloran has an average return of 51.9% and an 86.96% success rate on recommended stocks.
In another report released on November 25, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.00 price target.