BMO Retains Endeavour Silver's Outperform Rating, C$21.50 Price Target, After Q1 Production Results

BMO Capital Markets on Thursday maintained its outperform rating on the shares of Endeavour Silver (EDR.TO, EXK) and its C$21.50 price target after the company released first-quarter production results.Endeavour's first-quarter silver-equivalent production of 3.3-million ounces, comprising 1.9-million ounces of silver and 11,700 ounces of gold, broadly aligned with BMO's estimates.Production at the Terronera mine in Mexico slightly exceeded BMO's forecast, offsetting modest underperformance at the Guanacevi mine. The Kolpa mine in Peru continued to make progress on the ramp-up to 2,500 tonnes per day, with crushing and grinding capacity added during the quarter."We continue to expect improving production throughout the year as Kolpa ramps up and as Terronera reaches higher grades in H2," BMO said.Price: $13.20, Change: $-0.35, Percent Change: -2.58%

-- BMO Capital Markets on Thursday maintained its outperform rating on the shares of Endeavour Silver (EDR.TO, EXK) and its C$21.50 price target after the company released first-quarter production results.

Endeavour's first-quarter silver-equivalent production of 3.3-million ounces, comprising 1.9-million ounces of silver and 11,700 ounces of gold, broadly aligned with BMO's estimates.

Production at the Terronera mine in Mexico slightly exceeded BMO's forecast, offsetting modest underperformance at the Guanacevi mine. The Kolpa mine in Peru continued to make progress on the ramp-up to 2,500 tonnes per day, with crushing and grinding capacity added during the quarter.

"We continue to expect improving production throughout the year as Kolpa ramps up and as Terronera reaches higher grades in H2," BMO said.

Price: $13.20, Change: $-0.35, Percent Change: -2.58%