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CIBC Downgrades Endeavour Silver to Neutral, Lowers Price Target to C$20
CIBC analyst Cosmos Chiu downgrades Endeavour Silver (TSX:EDR) from Outperformer to Neutral and lowers the price target from C$25 to C$20.
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Endeavour Silver Reports Q3 Production Of 2,096,545 Silver Ounces And 10,126 Gold Ounces; Production For Full Year Expected To Be At Or Slightly Below The Low End Of The Guided Range
In combination with base metals, a silver equivalent(1) production of 3.6 million oz. Year-to-date production was 5,915,874 silver oz and 32,340 gold oz for a total silver equivalent(1) production of 10.4 million oz.
Shares of precious metals-related companies are trading lower as gold and silver decline amid a stronger dollar and rising yields. Recent comments from the Fed's Barkin on inflation and future rate hikes prompt expectations of tighter monetary policy, which would create headwinds as investors rotate into fixed income.
Endeavour Silver Q2 Adj. EPS $0.15 Misses $0.17 Estimate, Sales $212.100M Miss $215.431M Estimate