11:31 AM EDT, 08/13/2025 (MT Newswires) -- (Adds National Bank comment and updates shares.)

Endeavour Silver ( EXK ) said Wednesday that its adjusted loss widened in the second quarter.

The miner reported an adjusted loss, excluding most one-time items of US$9.2 million, or US$0.03 per share, compared to the previous year's loss of US$1.0 million, on nil per share. Analysts polled by FactSet expected adjusted earnings of US$0.01 per share.

Revenue increased 46% to US$85.3 million, under the FactSet-compiled analyst consensus forecast of US$81.8 million.

"Our team delivered solid operating results, achieving higher sales at favorable market prices while

maintaining costs below guidance," chief executive Dan Dickson said.

National Bank of Canada kept its outperform rating and $10.00 price target on the company's shares after the news.

National Bank attributed Endeavour's earnings miss to the accounting of Terronera during its pre-commercial production phase, higher Kolpa acquisition costs, and higher expenses during the quarter.

National Bank said it continues to view Endeavour Silver ( EXK ) as its top pick within its silver coverage universe, citing the miner's continued discounted valuation and expected transition to a state of positive free cash flow through the ramp-up of Terronera and the integration of Kolpa.

Endeavour shares were last seen down $0.38 to $7.54 on the Toronto Stock Exchange.

Price: 7.48, Change: -0.45, Percent Change: -5.62