The massive beat on revenue and earnings should drive a strong positive reaction. Monitor upcoming conference call for production and cost guidance for the rest of 2026, especially in light of rising AISC. The stock is already near $2.5B market cap; upside may be partially priced in given the bullish analyst consensus (92% buy).
Price Chart
Executive Summary
Endeavour Silver reported exceptional Q1 2026 results with record revenue of $209.7M (up 230% YoY) and net earnings of $64.9M vs a year-ago loss, driven by surging silver/gold prices and new production from Terronera and Kolpa mines. Silver-equivalent production rose 78% to 3.34M oz, while AISC per ounce increased to $37.03 (up 51% YoY) due to higher royalties and mining duties.
Key Facts
- Revenue grew 230% YoY to $209.7 million
- Net earnings of $64.9 million vs net loss of $32.9 million in Q1 2025
- EPS of $0.23 vs -$0.13 in Q1 2025
- Silver-equivalent production up 78% to 3,341,943 oz
- Cash costs per silver ounce rose 42% to $22.54; AISC up 51% to $37.03
- Mine operating cash flow before taxes surged 419% to $114.6 million
- Cash balance of $231.8 million as of March 31, 2026
- Completed sale of Bolaitos mine on January 15, 2026, with a gain of $35.6 million
Financial Impact
Revenue $209.7M (up 230% YoY), net income $64.9M (vs -$32.9M), EPS $0.23 (vs -$0.13), operating cash flow before working capital $38.8M (up 365%)
Risk Factors
- All-in sustaining costs up 51% YoY, compressing margins if metal prices decline
- Dependence on elevated silver and gold prices to sustain profitability
- Integration risks from new mines (Terronera, Kolpa) and potential operational hiccups
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-003076 |
| Document: f6k_050626.htm | 0001171843-26-003076 |
| Document: 0001171843-26-003076-index-headers.html | 0001171843-26-003076 |
| Document: 0001171843-26-003076-index.html | 0001171843-26-003076 |
| Document: 0001171843-26-003076.txt | 0001171843-26-003076 |
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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