Endeavour Silver Corp. Q1 2026 Earnings Recap

Endeavour Silver’s shares gained 7.7% following Q1 results driven by better-than-expected production and revenue growth amid ongoing operational ramp-ups and cost improvements.

Key Takeaways

• Total production reached 3 million silver equivalent ounces, a 78% increase year-over-year, supported by additions from Copa and Terronera.
• Revenue grew 23% year-over-year to $210 million, alongside a 400% increase in mine operating cash flow to $115 million before taxes.
• All-in sustaining costs rose 51% year-over-year to $37/oz but declined 9% sequentially, reflecting operational efficiencies and ongoing ramp-up.
• Direct operating costs per tonne increased due to the inclusion of higher-cost assets Copa and Terronera, though cost reductions are expected as operations normalize.
• Strong cash position of over $232 million and stable working capital underpin continued investment, including exploration and Pitarrilla feasibility studies.