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Endeavor Silver Shows Strength in 2014

By  +Follow February 21, 2014 8:46AM
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Small-Cap Star Endeavor Silver Corp. (EXK) had a rocky 2013, with big gains and losses. On the whole, the company started the year still in a lengthy downtrend that took the stock from its peak in 2011 at more than $12.50 to its 52-week low of $2.88 in early July of last year.

Rebounding Silver Prices, Strong Production Drive Gains

Of course, it’s hard to see this as reflecting too harshly on Endeavor as a company as its stock peaked around the same time silver prices did. Silver came very near touching $50 an ounce in Q2 of 2011, and by early July of last year it was under $20 an ounce.

However, silver is bouncing back and Endeavor with it in 2014. However, other junior silver miners would be hard pressed to match the over 55 percent gain experienced by Endeavor since the beginning of 2014. The company released strong 2014 projections on Jan. 22, with guidance for its three underground mine in Mexico (Guanaceví Mine in Durango State and the Bolañitos and El Cubo Mines in Guanajuato State) apparently impressing investors and traders alike.

"After delivering tremendous production growth in 2013, we plan to hold production relatively steady for 2014, hone the operations and position the Company for a turnaround in metal prices later this year,” said CEO Bradford Cooke at the time. “Our capital budget is significantly reduced this year which will help boost free cash-flow."

"Our focus this year will be on further refining our operating and financial performance through initiatives to improve productivity, reduce operating costs and enhance cash-flow at all three mines, as well as completing the operational turn-around at El Cubo,” he continued. “We have resumed exploration around the mines in order to replace depleted reserves and expand resources, but green-fields exploration will be minimized to drilling our emerging new, high grade discovery at the San Sebastián property."

Strong Technical Signs During Current Uptrend

On the whole, Endeavor’s stock has been sharply positive this year. The stock crossed its 20-day moving simple moving average (SMA) in December, butted up against its 50-day SMA for about a week in early January before breaking through, and crashed through its 200-day SMA by mid-month. The sharp climb that took it through the 200-day SMA hit resistance at around $4.70 a share and retreated once before breaking through. Since then, it’s been climbing and hasn’t looked back, currently hovering near $5.65 a share and a 52-week high.

Fundamental Analysis Also Appears Strong

A look at Endeavor’s fundamentals may indicate why the stock has so much strength. The company managed to dramatically increase revenue from 2011 to 2012 despite crashing silver prices during this period, and its P/E ratio is fairly solid and just under 13.

And if one uses the DuPont Model for analysis, there’s more reason to potentially feel bullish about the stock. While a first look at Endeavor’s ROE shows it coming in well below industry average, a deeper look shows a company trending in the right direction for the right reasons.

Endeavor’s net margins, a key indicator, are significantly better than the industry average. And while the company is well below industry average for asset turnover and equity multiplier, it’s worth noting that, if you have to choose, it’s better to be below average than above for the equity multiplier. A lower equity multiplier means less debt, and while industry average is ideal, less debt is better than more debt in most cases.

What’s more, looking at trends over time, Endeavor’s ROE, net margin, and asset turnover are all improving year-over-year. Net margins improved considerably from 2011 to 2012, as did ROE, and asset turnover appears to be trending closer to industry average.

On the whole, Endeavor appears to be a promising stock that, while dependent on silver prices maintaining some stability, may also be a best-in-breed pick for junior silver miners. There’s clearly some potential here that 2014’s gains aren’t a mirage and this company could keep growing.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for EXK
Somanath
31 Jul 15 16:45:50
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31 Jul 15 16:42:37
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31 Jul 15 16:36:32
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WKRB News
31 Jul 15 09:40:32
Endeavour Silver Corp Downgraded by Zacks $EXK http://t.co/ss3mdsDr1N
Bail O'Nomics
31 Jul 15 06:54:43
Record July #Silver Sales at US Mint $SLV $HL $SLV $SLW $GPL $SI_F $AGQ $EXK $AG $ZSL $SVM $SL $XAGUSD $PAAS $SSRI http://t.co/FBwvxvG15m
IH NASDAQ OMX
31 Jul 15 03:46:33
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31 Jul 15 03:43:34
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31 Jul 15 03:40:42
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31 Jul 15 03:35:07
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danrocks
31 Jul 15 03:35:06
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31 Jul 15 03:34:08
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KC
30 Jul 15 13:01:43
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Bullion Nation
30 Jul 15 12:27:36
Underwater on $EXK & $SLV Calls right now, but chart is screaming a run is imminent (maybe only to $15, but will make the calls profitable!)
Bail O'Nomics
30 Jul 15 10:26:55
Silver Ignored While Gold Gets BashedDaily $SLV $SVM $SLW $GPL $SI_F 4GC-F $AGQ $HL $EXK $ZSL $AG $PAAS $SSRI $XAGUSD http://t.co/eu3MrDApAr
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30 Jul 15 03:45:35
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IH NASDAQ OMX
30 Jul 15 03:36:38
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ProVesting
29 Jul 15 20:42:23
$EXK: Zacks Rating on Endeavour Silver Corporation: http://t.co/ECSlDQzzuL
KC
29 Jul 15 11:16:15
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Investors Hangout
29 Jul 15 10:36:14
Stock_Tracker: Endeavour Silver Corp (EXK) 1.38 $EXK Silver http://t.co/uKuD0DdT8z
Investors Hangout
29 Jul 15 10:36:06
Stock_Tracker: Endeavour Silver Corp (EXK) 1.38 $EXK Silver http://t.co/laqC82xt1w
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29 Jul 15 10:32:40
Endeavour Silver Corp (EXK) 1.38 $EXK Silver Equity Picks -- Hecla Mining, Silver Wheaton, Coeur Mining, Endea http://t.co/EuNg7tobIP
chartguy89
29 Jul 15 10:15:38
EXK +2.61% Stock Charts $EXK Endeavour Silver Corp. (NYSE) Last Updated: 07/29/2015 12:15:37 EXK Stock Chart - http://t.co/exl1LdDJlV
Bail O'Nomics
29 Jul 15 09:12:17
UPDATED Post: July Silver Eagle sales set record $SLV $SLW $GPL $SI_F $AGQ $EXK $AG $HL $ZSL $XAGUSD $PAAS $SIL $SSRI http://t.co/g6fm6trl2D
ProVesting
29 Jul 15 00:47:19
$EXK $SSRI: Chasing Hot Silver Stocks: Endeavour Silver Corp (NYSE:EXK ...: http://t.co/Qjp5koixKF
Income Investing SA
28 Jul 15 15:22:58
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Seeking Alpha
28 Jul 15 15:22:57
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chartguy89
28 Jul 15 11:41:41
EXK +2.61% Stock Charts $EXK Endeavour Silver Corp. (NYSE) Last Updated: 07/28/2015 13:41:48 EXK Stock Chart - http://t.co/BpZhXMzCoR
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28 Jul 15 09:39:31
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investor wired
28 Jul 15 07:14:29
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28 Jul 15 00:51:23
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chartguy89
27 Jul 15 22:56:11
EXK -6.94% Stock Charts $EXK Endeavour Silver Corp. (NYSE) Last Updated: 07/28/2015 00:56:17 EXK Stock Chart - http://t.co/z7R6KOSZ9N
Chris Kelly
27 Jul 15 22:27:18
RT @Stock_Tracker1: Endeavour Silver Corp (EXK) 1.34 $EXK Silver Standard Appoints Paul Benson as President & CEO - Analyst Blog Z http://t…
Stock_Tracker
27 Jul 15 22:25:30
Endeavour Silver Corp (EXK) 1.34 $EXK Silver Standard Appoints Paul Benson as President & CEO - Analyst Blog Z http://t.co/HZHlUFUgNf
Pete
27 Jul 15 11:54:24
$AG $EXK $NUGT all flattened supports my $GOLD theory
Foxchart
27 Jul 15 08:23:07
$EXK There's a potential buy signal building on the daily chart. Technical 80% chance up. http://t.co/k0Kh1kX9zw
Nightcloud
26 Jul 15 20:25:51
On Watch: $SSRI $GOGO $WWE $AVP $RIG $EXK
BreakingStocksNews
26 Jul 15 08:24:49
$EXK: Brokerages Set Endeavour Silver Corp Target Price at $3.07 (NYSE ...: http://t.co/WqHswc1cJE
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clayton
25 Jul 15 06:52:24
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jim50
25 Jul 15 06:51:08
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DennyT
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25 Jul 15 06:47:10
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25 Jul 15 06:46:14
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25 Jul 15 06:46:08
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By  +Follow February 21, 2014 8:46AM
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