12:02 PM EDT, 08/01/2024 (MT Newswires) -- Endeavour Silver ( EXK ) was last seen down 20% after the company on Thursday said it booked an adjusted loss in the second quarter despite an increase in revenue.

The miner posted an adjusted loss, excluding most one-time items, of US$1.0 million, or nil per share, swinging from adjusted earnings of US$1.6 million, or US$0.01, in the year-prior quarter.

Endeavour said the result excluded losses on derivative contracts, mark to market deferred share units, unrealized foreign exchange, revaluation of cash settled DSUs and investments losses.

Revenue rose 17% to US$58.3 million on higher realized prices while silver equivalent production fell 5% to 2.2 million ounces.

Endeavour said its full-year 2024 production is tracking towards the upper range of its guidance.

The company said it continues to advance the Terronera project in Mexico, with commissioning scheduled in the fourth quarter.

"Staying on track for Q4 2024 commissioning reflects our team's planning, execution and dedication while ensuring financial stability and operational momentum," chief executive Dan Dickson said. "We are in our last big push before the finish line and remain focused on delivering value to our stakeholders."

Endeavour shares were last seen down $1.25 to $4.97 on the Toronto Stock Exchange.

Price: 4.97, Change: -1.25, Percent Change: -20.10