Endeavour Silver Revenue Hits $209.7 Million as Metal Prices Climb
The silver miner reported a diluted gain of 0.21 a share for the first quarter of 2026
Endeavour Silver Corp. (EXK), a silver mining company operating in Mexico and Peru, reported revenue of $209.7 million for the three months ended March 31, 2026, compared with $63.5 million for the same period in 2025. The company reported a diluted gain of 0.21 a share for the quarter, reversing a diluted loss of 0.13 a share in the prior-year period.
The company attributed the revenue growth to a significant increase in precious metal prices. For the first quarter of 2026, Endeavour Silver realized an average price of $85.95 per silver ounce and $5,035 per gold ounce, compared with $31.99 per silver ounce and $2,903 per gold ounce in the first quarter of 2025. The company said global tensions and expectations of slower economic growth pushed investors toward gold and silver, leading to all-time peaks of $118.45 per ounce for silver in January 2026 and $5,269 per ounce for gold in March 2026.
Production volumes also rose. Total silver ounces produced reached 1,875,375 in the first quarter of 2026, up 56% from 1,205,793 ounces in the first quarter of 2025. Silver equivalent ounces produced rose 78% to 3,341,943. However, production costs increased. All-in sustaining costs per ounce rose 51% to $37.03, compared with $24.48 in the prior-year period. Direct operating costs per tonne rose 31% to $186.92.
Cash flow from operating activities was $20.7 million for the quarter, compared with $3.4 million in the first quarter of 2025. The company's cash and cash equivalents ended the period at $231.8 million, up from $64.7 million at the end of the same period in 2025.
Strategic changes to the company's portfolio included the sale of Mina Bolañitos, S.A. de C.V. on January 15, 2026. The company recorded a gain from the disposal of Bolañitos of $35.6 million and received net proceeds of $27.5 million from the sale.
Endeavour Silver's total assets were $1,253.7 million as of March 31, 2026, compared with $1,235.7 million on December 31, 2025. Total liabilities decreased to $609.0 million from $656.6 million at the end of 2025. The company's retained deficit improved to $426.4 million from $491.3 million at the end of the previous year.