Endeavour (EXK) Soars 10.4% on Higher Silver Prices

We recently published 10 Big Names Feasting on Gains Ahead of Thanksgiving. Endeavour Silver Corp. (NYSE:EXK) is one of the best-performing stocks on Wednesday.

Endeavour Silver extended its winning streak to a 4th straight day on Wednesday, jumping 10.37 percent to close at $8.62 apiece as investors loaded portfolios in silver miners over renewed optimism for an interest rate cut.

The stock rallied alongside its counterparts, mimicking the jump in spot silver prices, which, during the trading session, grew by 3.59 percent to $53.32 per troy ounce.

Typically, a lower interest rate weakens the US dollar, making precious metals such as silver and gold cheaper and more attractive to foreign investors.

In other news, Endeavour Silver Corp. (NYSE:EXK) announced that it was selling its Bolañitos silver and gold mine project to Guanajuato Silver Company Ltd. for a total of $50 million.

Under the terms of the agreement, Guanajuato would acquire all outstanding shares of Mina Bolañitos, SA de CV—which owns and operates the mine in Mexico—for $0.2709413 apiece.

Endeavour Silver Corp. (NYSE:EXK) said the initiative was in line with its plans to focus on the Terronera and Pitarrilla projects, also located in Mexico.

“By focusing our resources on our core silver assets, particularly delivering at Terronera and advancing the world- class Pitarrilla project, we are sharpening our operational focus and positioning the company for sustainable growth,” said Endeavour Silver Corp. (NYSE:EXK) Chief Executive Officer Dan Dickson.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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