The week started off on a sedate note for Endeavour Silver Corp (NYSE:EXK) in the markets as the stock remained within a range. However, at the same time, it is perhaps also important for investors to keep in mind that the company was in fact in the news on Monday and made some important announcement with regards to its first quarter production.
Trading Data
On Monday, EXK stock gained 1.22% to $4.97 with more than 4.77 million shares traded, compared to its average volume of 3.81 million shares. The stock moved within a range of $4.8250 – 5.1500 after opening trading at $5.03.
Endeavour Silver Delivers Strong Production in Q1 2022
Endeavour Silver managed to produce as much as 1,314,995 ounces of silver and 8966 ounces of gold, which worked out to silver equivalent of 2 million ounces. That was a strong performance for the company but it did not lead to much of a move in the Endeavour Silver share price.
It is going to be interesting to see if there is any action in the stock today or through the rest of the week one way or another. The Chief Executive Officer of the company Dan Disckson spoke about the performance from the company as well and acknowledged that it was a strong start to 2022 for Endeavour Silver.
He went on to state that the decision sign a definitive agreement for the acquisition of the Pitarrilla Project was a strong strategic move. The project remains one of the biggest undeveloped silver projects in the world at this point in time.
Key Quote
“The year is off to a strong start,” stated Dan Dickson, Chief Executive Officer. “Operationally, Guanacevi continues to outperform production expectations and Bolañitos remains steady. Strategically, we made a significant move in January signing a definitive agreement to acquire the Pitarrilla Project, one of the world’s largest undeveloped silver deposits. The addition of Pitarrilla, which is expected to close in the second quarter, significantly enhances our already attractive pipeline of growth projects, which also includes Terronera and Parral.”
Technical Data
EXK stock is trading above the 20-Day and 50-Day Moving averages of $4.79 and $4.52 respectively. Moreover, the stock is trading above the 200-Day moving average of $4.64.
