In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Endeavour Silver, with a price target of $11.00.
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Heiko Ihle has given his Buy rating due to a combination of factors, primarily focusing on the strategic sale of Endeavour Silver’s Bolañitos mine. This transaction, valued at $50 million, is expected to enhance the company’s liquidity, which is crucial for advancing the Pitarrilla project. The deal includes an upfront payment and contingent payments, providing both immediate and future financial benefits.
Additionally, Ihle views the sale as a prudent move, allowing Endeavour Silver to focus on its core assets like Guanaceví, Minera Kolpa, and Terronera, which are deemed more critical for the company’s growth. The analyst also maintains a price target of $11.00, supported by a detailed valuation model that considers the company’s liquid assets and debt, alongside appropriate discount rates for its projects. This comprehensive analysis underpins the Buy rating, reflecting confidence in the company’s strategic direction and financial health.
In another report released on November 13, B. Riley Securities also maintained a Buy rating on the stock with a $11.00 price target.