Traders should monitor Q1 financial results (May 6) for margin performance and inventory valuation impacts. The Kolpa expansion and Terronera ramp-up signal potential for higher output in H2, but near-term weather and labor challenges in Peru could persist.
Price Chart
Executive Summary
Endeavour Silver reported Q1 2026 production of 1.875 million oz silver and 11,740 oz gold, a 56% and 41% increase year-over-year respectively, driven by new operations at Kolpa and Terronera, partially offset by the sale of the Bolaitos mine. Production slightly missed internal targets due to weather and equipment issues, but the company highlighted progress in plant expansions and inventory optimization.
Key Facts
- Q1 2026 silver production: 1,875,375 oz (56% above Q1 2025)
- Q1 2026 gold production: 11,740 oz (41% above Q1 2025)
- Silver equivalent production: 3.34 million oz (78% increase YoY)
- Kolpa mine in Peru contributed 530,118 oz silver; plant expansion completed to enable 2,500 tpd throughput
- Guanacevi production declined 22% YoY due to lower grades and throughput
- Bolaitos mine sold in January 2026; its early-period output included in results
- Held 419,699 oz silver and 1,405 oz gold in inventory due to price weakness
Financial Impact
Increased production volume with 78% higher silver equivalent output YoY, though slightly below internal targets. Inventory buildup of 420k oz silver may delay revenue recognition.
Risk Factors
- Adverse weather in Peru delayed Kolpa ramp-up and increased operating costs
- Labor shortages in Peruvian mining sector could affect future throughput
- Management held bullion inventory due to falling precious metals prices, creating mark-to-market risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-002318 |
| Document: f6k_040726.htm | 0001171843-26-002318 |
| Document: 0001171843-26-002318-index-headers.html | 0001171843-26-002318 |
| Document: 0001171843-26-002318-index.html | 0001171843-26-002318 |
| Document: 0001171843-26-002318.txt | 0001171843-26-002318 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | 6-K | $7.83 | awaiting T+20 | — | $7.49 (−4.34%) |
Oct 8, 2026 18d ago | 6-K | $8.57 | awaiting T+20 | — | $7.49 (+12.60%) |
Sep 22, 2026 4w ago | 6-K | $10.51 $8.20 | ▲ +21.98% | ▲ +21.42% | $7.49 (+28.73%) |
Aug 24, 2026 9w ago | 6-K | $10.76 $10.13 | ▼ −5.86% | ▼ −5.87% | $7.49 (−30.39%) |
Aug 20, 2026 9w ago | 6-K | $10.62 $10.13 | ▲ +4.61% | ▲ +4.09% | $7.49 (+29.47%) |
Aug 17, 2026 10w ago | 6-K | $10.14 $9.64 | ▲ +4.93% | ▲ +2.95% | $7.49 (+26.13%) |
Jul 29, 2026 12w ago | 6-K | $7.77 $11.30 | ▲ +45.43% | ▲ +41.47% | $7.49 (−3.60%) |
Jul 8, 2026 15w ago | 6-K | $7.72 $8.96 | ▲ +16.06% | ▲ +12.79% | $7.49 (−2.98%) |
Jul 8, 2026 15w ago | Press Release | $7.72 $8.96 | ▲ +16.06% | ▲ +12.79% | $7.49 (−2.98%) |
Jun 18, 2026 18w ago | 6-K | $8.61 $7.49 | ▼ −13.01% | ▼ −13.54% | $7.49 (−13.01%) |
US Market Status
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