BMO Capital Markets on Thursday reiterated its outperform rating on the shares of Endeavour Silver (EDR.TO) with a C$8.00 price target as it came off restrictions on coverage of the miner.
"We are off restriction following the closing of Endeavour Silver's $73M bought deal financing. Combined with EDR's cash balance of $55M at the end of Q3, the financing eliminates any funding concerns for the remaining spend at Terronera, and will be used to advance the Pitarrilla project in Durango, Mexico. Terronera is on track for commissioning in Q4, and Pitarrilla will be the next focus within EDR's project pipeline - an economic study on the project is expected by the end of 2025," analyst Kevin O'Halloran wrote
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 5.77, Change: -0.04, Percent Change: -0.77
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