Stock Track | Endeavour Silver Plunges 5.53% Pre-Market on Disappointing Q3 Results

Stock Track11-06

Shares of Endeavour Silver Corp. (NYSE: EXK) plummeted 5.53% in pre-market trading on November 6, 2024, following the release of the company's third-quarter 2024 financial results. The silver mining company reported a higher-than-expected quarterly adjusted loss of $0.07 per share, missing analysts' consensus estimate of a $0.01 per share loss.

Endeavour Silver's revenue for the third quarter increased by 8.1% year-over-year to $53.44 million, beating Wall Street's expectations of $51.57 million. However, the company reported a net loss of $17.3 million for the quarter, which analysts attributed to operational challenges and higher costs.

H.C. Wainwright analyst Heiko Ihle, who reiterated a "Buy" rating on Endeavour Silver's stock on October 22, cited strong silver and gold pricing as a driver for revenue growth. However, Ihle acknowledged the operational challenges faced by the company, which likely impacted profitability during the quarter.

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