ENDEAVOUR SILVER (EXK) Company Report

Analyst Coverage

Research analysts who have asked questions during ENDEAVOUR SILVER earnings calls.

Heiko Ihle

H.C. Wainwright & Co.

5 questions for EXK

Also covers: AREC, ASM, AUMN +14 more

Wayne Lam

TD Securities

3 questions for EXK

Also covers: AG, BTG, CDE +4 more

Craig Hutchison

TD Securities

2 questions for EXK

Also covers: CCJ, ERO, NXE +2 more

Craig Stanley

Raymond James Ltd.

2 questions for EXK

Jacob Sekelsky

Alliance Global Partners

2 questions for EXK

Also covers: AIRJ, ASM, AUMN +5 more

Lucas Pipes

B. Riley Securities

2 questions for EXK

Also covers: AA, AMR, AMRK +21 more

Nick Giles

B. Riley Securities

2 questions for EXK

Also covers: AA, AMR, APLD +25 more

Phil Kerr

Ventum Financial

2 questions for EXK

Alex Charenteau

National Bank Financial

1 question for EXK

Alex Terentiew

National Bank Financial

1 question for EXK

Also covers: CDE, HL

Robert Carlson

Janney Montgomery Scott

1 question for EXK

Soundarya Iyer

B. Riley Securities

1 question for EXK

Also covers: SMR

Latest news

Recent press releases and 8-K filings for EXK.

Endeavour Silver completes US$350 million convertible senior notes offering

EXK

Debt Issuance

New Projects/Investments

Convertible Preferred Issuance

Endeavour Silver Corp. completed an offering of US$350 million aggregate principal amount of 0.25% unsecured convertible senior notes due 2031.
This offering included the full exercise of a US$50 million option granted to the initial purchasers.
The initial conversion rate for the notes is 80.2890 common shares per US$1,000 principal amount, equivalent to an initial conversion price of approximately US$12.4550 per Share.
The net proceeds are intended to repay its senior secured debt facility, fund the advancement of its Pitarrilla project in Mexico, and for general corporate purposes.

Dec 4, 2025, 4:13 PM

6-K

Endeavour Silver Prices Convertible Senior Notes Offering

EXK

Debt Issuance

New Projects/Investments

Endeavour Silver Corp. (EXK) has priced an offering of US$300 million aggregate principal amount of unsecured convertible senior notes due 2031, with an option for initial purchasers to buy an additional US$50 million.
The notes will bear cash interest semi-annually at a rate of 0.25% per annum.
The initial conversion rate is 80.2890 common shares per US$1,000 principal amount, equivalent to an initial conversion price of approximately US$12.4550 per Share, representing a 32.5% premium relative to the closing market price on the NYSE.
The net proceeds from the offering are intended to repay the company's senior secured debt facility, fund the advancement of its Pitarrilla project, and for general corporate purposes, including strategic opportunities.
The offering is expected to close on or about December 4, 2025.

Dec 2, 2025, 2:02 AM

6-K

Endeavour Silver Announces Convertible Senior Notes Offering

EXK

Debt Issuance

New Projects/Investments

Convertible Preferred Issuance

Endeavour Silver Corp. is offering US$300 million aggregate principal amount of unsecured convertible senior notes due 2031 through a private placement.
The company expects to grant initial purchasers an option to acquire up to an additional US$45 million aggregate principal amount of notes.
The net proceeds from the offering will be used to repay its senior secured debt facility, fund the advancement of its Pitarrilla project in Mexico, and for general corporate purposes.

Dec 1, 2025, 12:06 PM

6-K

Endeavour Silver Announces Definitive Agreement to Sell Bolañitos Mine

EXK

M&A

New Projects/Investments

Endeavour Silver Corp. has entered into a definitive agreement to sell its Bolañitos silver and gold mine in Mexico to Guanajuato Silver Company Ltd. for total consideration of up to US$50 million.
The consideration includes US$40 million upfront, comprising US$30 million in cash and US$10 million in common shares of Guanajuato Silver, with an additional US$10 million in contingent payments tied to silver equivalent production milestones.
The transaction, expected to close in January 2026, is part of Endeavour Silver's strategy to rationalize its portfolio and focus on core silver assets such as the Terronera and Pitarrilla projects.

Nov 24, 2025, 11:51 AM

6-K

Endeavour Silver Announces Commercial Production at Terronera Mine and Reports Q3 2025 Results

EXK

Earnings

New Projects/Investments

M&A

Endeavour Silver's Terronera mine commenced commercial production on October 1, 2025, after exceeding 90% of its 2,000 tpd nameplate capacity and 90% metal recoveries during commissioning in Q3 2025. The mine is projected to have an average annual production of 7.0 million oz AgEq over a 10-year mine life with low LOM cash costs of ($0.20) per oz and AISC of $2.15 per oz.
For the year-to-date 2025, consolidated production reached 4,373,087 oz Ag and 22,978 oz Au, totaling 7,438,645 oz AgEq, which includes base metals from the newly acquired Kolpa mine. Kolpa alone contributed 2,091,217 oz AgEq from May 1, 2025, to September 30, 2025.
In Q3 2025, Guanaceví produced 1,279,860 oz AgEq with cash costs of $22.98/oz and AISC of $31.09/oz. Bolañitos produced 471,158 oz AgEq with cash costs of ($11.47)/oz and AISC of $27.22/oz in the same quarter.
As of November 7, 2025, the company reported a cash position of $57 million and a market capitalization of $2.1 billion. The net debt for the 12 months ended December 31, 2024, was $20,329 thousand.

Nov 7, 2025, 6:00 PM

Presentation

Endeavour Silver Reports Q3 2025 Results, Terronera Achieves Commercial Production

EXK

Earnings

Guidance Update

New Projects/Investments

Endeavour Silver reported Q3 2025 revenue of $111 million, a 109% increase compared to the prior year, alongside a net loss of $37.5 million for the period, which included a $39 million loss on derivative contracts.
A significant operational milestone was achieved with the Terronera mine reaching commercial production on October 16, 2025, after performing at an average of 90% of its design capacity during commissioning. The company anticipates positive free cash flow from Terronera in Q4 2025 and Q1 2026.
Total production for Q3 2025 (excluding Terronera) was approximately 3 million silver equivalent ounces, an 88% increase compared to Q3 2024, primarily due to the addition of the Colpa mine, which contributed 1.3 million silver equivalent ounces. Cash costs increased to $18 per payable silver ounce, and all-in sustaining costs rose to $30.53 per ounce.
As of September 30, 2025, the company's cash position was $57 million.

Nov 7, 2025, 6:00 PM

Transcript

Endeavour Silver Corp. Reports Q3 2025 Results with Revenue Growth Driven by Acquisitions and New Mine

EXK

Earnings

M&A

New Projects/Investments

Endeavour Silver Corp. reported a significant increase in revenue for Q3 2025, reaching $142.8 million, up from $53.4 million in Q3 2024, primarily due to contributions from the newly acquired Minera Kolpa and the Terronera project, alongside higher realized silver and gold prices.
Despite revenue growth, the company recorded a net loss of $41.9 million for Q3 2025, or ($0.14) per basic share, compared to a net loss of $17.3 million, or ($0.07) per basic share, in Q3 2024.
Cash flow from operating activities for the nine months ended September 30, 2025, increased to $52.0 million from $24.0 million in the same period of 2024.
The Terronera mine achieved commercial production on October 1, 2025, following its contribution of $31.5 million in revenue during Q3 2025.
The company completed the acquisition of Minera Kolpa in May 2025, which contributed $39.0 million in revenue during Q3 2025, and also increased its Debt Facility by $15 million to $135 million.

Nov 7, 2025, 12:45 PM

6-K

Endeavour Silver Corp. Announces Strong Q3 2025 Results and Terronera Commercial Production

EXK

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

Endeavour Silver Corp. reported a significant increase in production and robust revenue growth for Q3 2025, with silver equivalent production up 88% year-over-year to 3.0 million oz and revenue from operations increasing 109% to $111.4 million.
The company achieved strong mine operating cash flow before taxes of $39.7 million, a 102% increase from Q3 2024, and its Adjusted EBITDA more than doubled to $28.2 million.
All-in sustaining costs rose 18% to $30.53 per oz in Q3 2025, partially due to higher royalties, profit participation, and third-party material costs.
Terronera declared commercial production effective October 1, 2025, following consistent performance exceeding 90% of designed nameplate capacity.

Nov 7, 2025, 11:51 AM

6-K

Endeavour Silver Announces Strong Q3 2025 Financial and Operating Results

EXK

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Endeavour Silver reported revenue from operations of $111.4 million in Q3 2025, marking a 109% increase from Q3 2024.
The company's silver equivalent production rose 88% year-over-year to 3.0 million ounces in Q3 2025.
Adjusted EBITDA more than doubled to $28.2 million in Q3 2025, up from $13.9 million in Q3 2024.
Cash costs per silver ounce increased 59% to $18.09, and all-in sustaining costs per ounce rose 18% to $30.53 in Q3 2025.
Terronera declared commercial production effective October 1, 2025.

Nov 7, 2025, 11:50 AM

Press Release

Endeavour Silver Corp. announces commercial production at Terronera mine

EXK

New Projects/Investments

Guidance Update

Endeavour Silver Corp. announced that it achieved commercial production at its Terronera mine in Jalisco state, Mexico, effective October 1, 2025.
During the commissioning phase, mining and processing operations consistently exceeded 90% of the designed nameplate capacity of 2,000 tonnes per day and achieved at least 90% of projected metal recoveries.
The company forecasts a throughput of approximately 360,000 tonnes over the next six months, with average grades estimated at 122 g/t silver and 2.52 g/t gold.
Management plans to issue annualized 2026 production and cost guidance for the Terronera mine in January 2026.