Analyst Kevin O’Halloran of BMO Capital maintained a Buy rating on Endeavour Silver (EXK – Research Report), reducing the price target to C$7.50.
Kevin O’Halloran has given his Buy rating due to a combination of factors, primarily focusing on Endeavour Silver’s financial performance and strategic developments. The company reported a slight earnings beat in Q4, with adjusted EPS of $0.02 compared to the expected -$0.01, which indicates a stronger-than-anticipated financial position. Additionally, the increase in cash balance to $106 million, following a successful equity raise, provides a robust financial foundation for future projects.
Moreover, the advancement of the Terronera project is a significant factor in the Buy rating. With full commissioning expected in early Q2, this project is poised to enhance production capacity and reduce costs, thereby strengthening Endeavour Silver’s market position. The company’s strategic focus on organic growth, particularly through potential developments like Pitarrilla and Parral, further underscores its long-term growth prospects, making it an attractive investment opportunity.
According to TipRanks, O’Halloran is a 5-star analyst with an average return of 18.1% and a 65.93% success rate. O’Halloran covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, Endeavour Silver, and Fortuna Silver Mines.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.25 price target.
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