Endeavour (EXK) Touches Fresh Record as Silver Soars to New High

We recently published 10 Stocks Stealing Wall Street’s Spotlight. Endeavour Silver Corp. (NYSE:EXK) is one of the top performers on Monday.

Shares of Endeavour soared to a new all-time high on Monday, as investor funds poured into mining stocks amid silver’s record-breaking prices.

In intra-day trading, Endeavour Silver Corp. (NYSE:EXK) jumped to its highest price of $7.84 before paring gains to end the day just up by 15.68 percent at $7.82 apiece.

Endeavour Silver Corp. (NYSE:EXK) rallied alongside its silver mining stocks after spot prices of silver, which as of writing were up by 2.27 percent at $44.06 per troy ounce, boosted by expectations of more interest rate cuts in the future.

Lower rates tend to weaken the US dollar, making it more beneficial to precious assets like silver and gold by allowing foreign investors to purchase the dollar-denominated assets at a cheaper price.

Endeavour Silver Corp. (NYSE:EXK) is a Canada-based silver mining company. In the first six months of the year, it was able to produce 1.48 million ounces of silver and 7,755 ounces of gold for 2.5 million ounces of silver equivalent.

It also realized $85.3 million from the sale of 1.45 million oz of silver and 7,706 oz of gold, leading to a 46 percent increase in revenues from operations as compared with the same period last year.

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Disclosure: None. This article is originally published at Insider Monkey.