By Adriano Marchese
Endeavour Silver shares rose after the company reported an adjusted profit, despite lower production and revenue in the fourth quarter.
Shares rose over 18% to 6.18 Canadian dollars ($4.28)
The Canadian miner on Tuesday logged adjusted net earnings of 2 cents a share, beating FactSet-polled analyst expectations that forecasted a loss of 1 cent a share.
Endeavour generated $42.2 million in revenue, down from $50.5 million, missing expectations of a more moderate decline to $47.5 million.
Costs were higher in the quarter, rising by 15% to $152.44 per ton compared with a year earlier largely due to a 35% increase in direct operating costs at one of its mines as a result temporary lower mill processing.
For the full year, despite the suspended mill, output reached the higher end of the revised guidance of 7.3 million to 7.6 million ounces of silver equivalent.
The mill was down between August and December of last year. Production resumed to full capacity in the final month of the year with an annual total of 4.5 million silver ounces and 39,047 gold ounces. Silver equivalent production was 7.6 million ounces in the year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 11, 2025 09:56 ET (13:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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