Endeavour Silver’s Q1 Production Beats Estimates as Analyst Outlook Brightens

Endeavour Silver reports strong Q1 production of 3.3M silver-equivalent ounces, driving stock up 147% YoY as analyst EPS forecasts jump 87%.

Endeavour Silver is heading into its first-quarter earnings report with considerable momentum, as the miner’s operational data and a surge in analyst expectations have propelled its stock to fresh highs. The Vancouver-based silver producer delivered 1.88 million ounces of silver and 11,740 ounces of gold in the three months ended March 31, translating to roughly 3.3 million silver-equivalent ounces. Sales volumes came in slightly lower at 1.64 million ounces of silver and 10,942 ounces of gold, but the company’s management views the figures as a solid foundation for the year ahead.

The stock has responded sharply to the upbeat production update. Shares jumped nearly 8% on Wednesday to EUR 7.94, and over the past twelve months, the equity has surged roughly 147% from its 52-week low of EUR 2.88. The rally reflects a broader re-rating as analysts have dramatically upgraded their earnings forecasts. Consensus estimates for earnings per share have been revised upward by 86.66% over the past two months, now sitting at $0.15 per share for the first quarter. That marks a notable jump from earlier projections of $0.10 per share.

Revenue expectations have also climbed. Analysts now project first-quarter sales of $208.3 million, up from $173 million in the prior quarter. The company’s full-year production target remains intact at 8.3 to 8.9 million ounces of silver, with higher ore grades at the Terronera mine providing key support. The mine, alongside Bolañitos, is central to the company’s growth strategy.

The silver market itself has been a tailwind. In January 2026, the metal hit an all-time high above $121 per ounce, though volatility has persisted since. That backdrop has kept investors on edge, especially as insider selling has been detected in recent weeks. Still, the analyst community remains overwhelmingly bullish. Price targets range from C$20 to C$28, with the consensus rating holding at “Strong Buy.”

The complete quarterly report is scheduled for release after U.S. markets close on May 7, followed by a conference call in mid-May. Investors will be closely watching cost trends and profitability metrics to gauge whether the recent price rally is justified by underlying fundamentals.