Endeavour Silver Swings to Profit as Record Silver Prices and Mine Expansion Fuel Q1 Surge

Endeavour Silver posts $64.9M profit after $32.9M loss a year ago, driven by 230% revenue surge and Bolañitos mine sale; shares rise up to 11%.

Endeavour Silver has delivered a dramatic turnaround in the first quarter of 2026, propelled by a near-tripling of revenue and a strategic asset sale that vaulted the miner back into profitability. Shares responded enthusiastically, climbing more than 11 percent to €8.79 in Tuesday trading, though another report pegged the gain at 7.24 percent to €8.47, reflecting intraday volatility.

The Vancouver-based precious metals producer generated roughly 3.3 million ounces of silver equivalent during the three months ended March 31, a 78 percent leap from the same period last year. That production surge, combined with record-high metals prices, pushed revenue to approximately $210 million — a 230 percent increase from the prior year’s $63.5 million. Net income landed at $64.9 million, or $0.21 per share, a stark reversal from the $32.9 million loss recorded a year earlier.

Operating cash flow soared 419 percent to $114.6 million, underscoring the operational momentum. The bottom line also benefited from a one-time gain: the sale of the Bolañitos mine in January contributed $35.6 million to earnings, leaving Endeavour with a liquidity position of roughly $232 million.

Two key assets drove the production ramp. The Terronera mine, now operating near full capacity, added $38.4 million to operating income, while the expanded Kolpa facility also delivered a significant contribution. Management is counting on further growth from both projects as the year progresses.

Yet the quarter was not without headwinds. All-in sustaining costs (AISC) climbed to $37.03 per ounce of silver, pressured by inflation and a strong Mexican peso. The company expects those costs to ease to between $27 and $28 per ounce over the remainder of the year as volume increases.

For the full year, Endeavour Silver maintains its production guidance of 8.3 million to 8.9 million ounces of silver and up to 48,000 ounces of gold. The average realized silver price during Q1 was $85.95 per ounce, while gold fetched $5,035 per ounce — both record levels that amplified the bottom line.

Analysts remain bullish. H.C. Wainwright reiterated its buy rating with a $17.00 price target, citing the company’s operational progress. Management will discuss the quarterly results in detail during a conference call scheduled for May 7.

Since the start of 2026, Endeavour Silver shares have gained nearly 10 percent, reflecting growing investor confidence in the miner’s ability to sustain its turnaround amid elevated metals prices and expanding production capacity.