A brand-new silver buy

Article Excerpt

ENDEAVOUR SILVER CORP. $11.19 (Toronto symbol EDR: TSINetwork Rating: Speculative) (1-877-685-9775; www.edrsilver.com; Shares outstanding: 81.3 million; Market cap: $909.6 million; No dividends paid) operates two silver mines in Mexico, Guanacevi and Guanajuato. Endeavour has just released preliminary results for the three months ended March 31, 2011. In the quarter, its silver production rose 17%, to a record 900,133 ounces. That, plus higher silver prices, pushed up revenue by 95%, to $35.4 million. (All amounts except share price and market cap in U.S. dollars.) The company plans to increase the Guanajuato mine’s processing capacity by 67% this year. That will let Endeavour produce a total of 3.7 million ounces of silver in 2011. Endeavour has lots of room to increase the reserves at its two mines. It also has three other properties with considerable exploration potential. Endeavour is an aggressive buy. buy…