New York, January 9, 2026, 12:17 EST — Regular session
- Endeavour Silver shares rose about 10% in midday trade
- Company reported record 2025 silver-equivalent production, flagged grade mix shifts at Terronera
- Next test is the Feb. 27 results and call, with a mine sale expected to close this month
Endeavour Silver Corp shares rose about 10.4% on Friday, building on a volatile week for the U.S.-listed silver miner after a year-end production update. The stock was up $1.02 at $10.80, after touching $10.88.
The company said it produced 6,486,661 ounces of silver in 2025, along with 37,164 ounces of gold, for 11.2 million silver-equivalent ounces — a yardstick that rolls gold and base metals into a single silver figure. Chief Executive Dan Dickson called it “record silver equivalent production” and pointed to a ramp-up at the Terronera mine in Mexico. SEC
Why it matters now: early January production numbers often set the tone going into earnings, especially after a big year of moving parts. Endeavour’s 2025 tally includes its Terronera mine, which reached commercial production on Oct. 1, and eight months of output from the Kolpa mine in Peru after the deal closed in May.
Terronera, the new swing factor for 2026, posted 154,180 tonnes of throughput — the ore milled — in the fourth quarter, producing 352,002 ounces of silver and 8,148 ounces of gold, the update showed. Management said grades ran lower as mining stayed in lower-grade areas, with a shift into higher-grade zones scheduled for the second half of 2026.
Investors are also watching a portfolio trim that could change the cash picture. Endeavour has agreed to sell its Bolañitos mine for $30 million in cash and $10 million in Guanajuato Silver shares, plus up to $10 million tied to production milestones, and the company has said it expects the sale to close in January.
On the funding side, Endeavour closed a $350 million offering of 0.25% convertible senior notes due 2031 in December and said it would use proceeds to repay most third-party debt and push its Pitarrilla project along, among other corporate needs.
A regulatory filing on Thursday packaged the production release for U.S. investors as a Form 6-K, signed by Dickson, with the company indicating it files annual reports under Form 40-F.
But the stock’s move can cut both ways: a slower-than-expected ramp, weaker grades lasting longer at Terronera, or softer metal prices could squeeze cash flow, while the Bolañitos sale still has closing conditions. The next hard marker is Endeavour’s fourth-quarter financial report, due before the market opens on Feb. 27, followed by a management call later that day.
