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Silver Miner's 'Poor Q1/19 Results Drive Quick Management Action'

Source: Streetwise Reports

 

May 13, 2019 (Investorideas.com Newswire) The company's first-quarter results and its reaction to them are outlined in a ROTH Capital Partners report.


In a May 6 research note, analyst Joe Reagor reported that ROTH Capital Partners lowered its target price on Endeavour Silver Corp. (EDR:TSX; EXK:NYSE; EJD:FSE) to US$2.90 per share from US$3 after adjusting its estimates following release of the company's Q1/19 financial results. Endeavour's current share price is about US$1.86.

The reduced target is due to the "poor Q1/19 financial performance" of the company, which impacted ROTH's estimated valuation.

Reagor described Endeavour's Q1/19 results as "mixed but skewed to the negative side." Revenue was a beat at $29.1 million versus ROTH's forecast of $28.4 million. However, earnings per share at $0.02 fell short of ROTH's expectation of $0.10.

Unhappy with the weak first-quarter numbers, Endeavour's management took "swift action," Reagor noted, instituting measures to cut costs and improve performance. For one, the executives took a pay cut, and the Vancouver administrative staff members are working fewer hours. Also, the company assigned a new senior mine planning engineer who will review and revise mine plans to optimize operations. The company should significantly benefit from these changes, the analyst added.

ROTH maintained its Buy rating on Endeavour.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from ROTH Capital Partners, Endeavour Silver Corp., Company Note, May 6, 2019

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

ROTH makes a market in shares of Endeavour Silver Corp.and as such, buys and sells from customers on a principal basis.

Shares of Endeavour Silver Corp. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.

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