By Robb M. Stewart

Endeavour Silver's quarterly loss widened sharply as the precious metals miner was squeezed by derivatives contracts and other costs that more than countered higher prices.

The Canadian company recorded a first-quarter loss of $32.9 million, or 13 cents a share, against a year-earlier loss of $1.2 million, or 1 cent.

The result included a loss on derivative contracts of $31.9 million, a foreign exchange loss of $1 million compared with a gain last year of $1.2 million, and finance costs of $400,000 against C$300,000 a year earlier.

On an adjusted basis, Endeavour posted a quarterly loss of $200,000 versus earnings the year before of $300,000.

Revenue for the three months was little changed, slipping to $63.5 million from $63.7 million.

Production was 18% lower at 1.87 million silver-equivalent ounces. That included a 17% drop in silver production to 1.2 million ounces, and an 18% fall in gold output to 8,338 ounces. Still, the silver price realized by the miner was 36% above a year earlier and the gold price was 37% higher.

Chief Executive Dan Dickson said production tracking well against plan, and the company continued to generate solid mine operating cash flow, underpinned by cost control.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

May 13, 2025 07:19 ET (11:19 GMT)

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