Endeavour is set to grow

Article Excerpt

ENDEAVOUR SILVER $10.36 (Toronto symbol EDR: TSINetwork Rating: Speculative) (1-877-685-9775; www.edrsilver.com; Shares outstanding: 88.8 million; Market cap: $888.1 million; No dividends paid) operates the Guanacevi and Guanajuato silver/gold mines in Mexico. In the three months ended June 30, 2011, Endeavour’s revenue rose 84.7%, to $36.4 million from $19.7 million a year earlier (all amounts except share prices in U.S. dollars). It earned $0.20 a share in the latest quarter, compared to a loss of $0.05 a share. Higher production and sharply higher gold and silver prices were the main reasons for the gains. Endeavour is nearly finished expanding the Guanajuato mine. That will let it produce 3.7 million ounces of silver in 2011, up 12.1% from 3.3 million ounces in 2010. The company has lots of room to increase the reserves of its two mines. It also has three other properties with exploration potential. Endeavour Silver is a buy for aggressive investors. aggressive investors…