This article is about Endeavour Silver (NYSE:EXK). Endeavour Silver has a market capitalization of $500 million. It currently operates three silver mines in Mexico--Bolanitos, El Cubo, and Guanacevi--that produce roughly 5 million ounces annually. The company also has several exploration properties, that have the potential to become mines in the future.
Endeavour Silver appears to be somewhat overvalued based on conventional valuation metrics such as its resources ($2.50/ounce) or its cash flow (currently negative). However the company has a proven track record over the past several years of creating shareholder value by acquiring properties that have histories of silver mining. This track record is evidenced in the company's past growth of resources and production, as the following two...
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