Financial Data and Key Metrics Changes - In 2025, Endeavour Silver produced 11 million ounces of silver equivalent metal, a 48% increase compared to 2024 [5] - The company reported record revenue of $468 million, up 115% from 2024, with cost of sales at $385 million and mine operating earnings of $83 million [6] - Adjusted net earnings for Q4 were $4.8 million, or $0.02 per share, impacted by realized losses from derivative contracts and higher financing costs [6][7] Business Line Data and Key Metrics Changes - In Q4, Endeavour produced 2 million ounces of silver and 14,000 ounces of gold, totaling just shy of 4 million silver equivalent ounces, representing a 146% increase compared to Q4 of 2025 [5] - Excluding Coba and Terronera, production increased by 27% compared to the same period last year [6] Market Data and Key Metrics Changes - Silver and gold prices have seen exceptional gains, with gold trading above $5,000 and silver above $90, driven by inflationary pressures and global economic uncertainty [4] - The company is well-positioned to benefit from current silver prices, indicating substantial runway remaining in this cycle [4] Company Strategy and Development Direction - Endeavour Silver's strategic initiatives include the acquisition of Kolpa, achieving commercial production at Terronera, and advancing the Pitarrilla development asset [4][5] - The company plans to invest $68 million in Pitarrilla in 2026, focusing on exploration and technical studies [12] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of safety and operational stability, particularly in light of recent security events in Mexico [3] - The company anticipates a substantial reduction in direct operating costs as it transitions to liquefied natural gas in Q2 2026 [8][10] Other Important Information - As of December 31, 2025, the company's cash position was $215 million, providing financial strength to advance strategic initiatives [10] - The company expects to see improvements in throughput and recoveries as operations stabilize at Terronera [11] Q&A Session Summary Question: Can you discuss the mill availability and electrical interruptions at Terronera? - Management confirmed improvements in January and February, with stabilization of electrical disruptions and plans to transition to an LNG plant for better reliability and cost [15][17] Question: What is the guidance on grades at Terronera? - Management indicated that lower grades were due to mining stockwork, with expectations for higher grades in the second half of the year as operations progress [19][22] Question: How will costs drop in 2026? - Management explained that Q1 costs would be higher due to one-time expenditures, but costs are expected to decrease as operations stabilize and higher grades are processed [56][60] Question: What changes in security protocols have been implemented due to recent events in Jalisco? - Management stated that while there would be no dramatic changes in security costs, there would be increased monitoring of transportation lines [64][66] Question: What is the status of the Bolanitos sale and its accounting impact? - The sale closed on January 15, and the company anticipates recognizing an accounting gain in Q1 [72][73]

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted a ...

Gold back in outperformance mode, silver surge adds to bullish case Proactive uses images sourced from Shutterstock Gold has resumed outperforming the dollar in a development Deutsche Bank calls a “positive crossover”, reinforcing its constructive stance on precious metals. The bank says gold has shifted from underperformance to outperformance versus the US dollar based on its trailing 60-day beta. That marks a break from weakness seen since late January and is viewed as “an encouraging context” for its ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A WallStreetBets trader drew attention after posting a screenshot showing a massive win on gold-linked options, turning low-cost calls on the SPDR Gold Shares ETF (NYSE:GLD) into more than $51,000. The position, which the trader called "Getting My Shiny Rocks Off," shows 40 call contracts purchased at an average cost of $4.01 and later valued at $13.51, producing a gain of more than $35,000, or roughly 220 ...

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted a ...

2月24日，农历正月初八，深圳水贝贵金属市场在春节"不打烊"的喧嚣后，迎来了马年首个正式工作日。尽管国际金价在假期尾声已重拾涨势，于2月23日 就已再度突破5100美元/盎司关口，但这并未浇灭全国"淘金客"的热情。节后开工首日，水贝市场依旧人流如织，黄金销售延续了春节假期的火爆态势。 黄金档口火爆，马年金钞受消费者喜爱 香港男孩携家人买金手镯赠妈妈 2月24日14时许，水贝国际珠宝交易中心内人流熙熙攘攘，计算器的敲击声、消费者的询价声、导购员的介绍声互相交织。多家黄金零售档口前围满了来 自各地的顾客前来询价买金。 "今年春节儿子收到红包，他就想着送一个黄金首饰给我。"大年初八开工首日，吴女士一家三口从香港来到深圳水贝"购金"。吴女士告诉南都·湾财社记 者，之前，她已经有了一个黄金指环和一条黄金手链，而今年六七岁的儿子拿到春节利是后，提出要为妈妈添置一件金首饰。一家人经过挑选，选中了一 款15克重的金手镯。 消费者购金热情高涨背后，2026年1月末以来，黄金价格由高位回调，2月以来则持续展现震荡态势。截至发稿，以伦敦金计价的国际金价不足5200美元/ 盎司，较1月末高点已跌去超400美元/盎司。 在消费者青睐的 ...

Core Insights - The iShares MSCI Global Silver and Metals Miners ETF (SLVP) and VanEck Gold Miners ETF (GDX) provide distinct investment opportunities in the metals and mining sector, with SLVP focusing on silver and diversified metals while GDX targets gold miners [1][2]. Cost and Size Comparison - SLVP has a lower expense ratio of 0.39% compared to GDX's 0.51% - SLVP offers a higher dividend yield of 1.5% versus GDX's 0.6% - As of February 20, 2026, SLVP has $1.3 billion in assets under management (AUM), while GDX has $33.5 billion [3][4]. Performance and Risk Metrics - Over the past five years, SLVP experienced a maximum drawdown of -56.18%, while GDX had a drawdown of -49.79% - An investment of $1,000 would have grown to $2,718 in SLVP and $3,246 in GDX over the same period [5]. Portfolio Composition - GDX consists of 55 holdings focused solely on gold mining, with major positions in Agnico Eagle Mines (9.73%), Newmont Corp (9.11%), and Barrick Mining Corp (6.65%) [6]. - SLVP holds 30 companies, with a concentration in silver mining, featuring top holdings such as Hecla Mining (15.38%), Indust Penoles (11.9%), and Fresnillo Plc (10.94%) [7]. Market Context - Precious metals have gained significant momentum, with gold and silver prices reaching all-time highs in January 2026, influencing investor decisions between SLVP and GDX based on desired metal exposure [8]. Investment Strategy - GDX is noted for its liquidity and diversification within the gold mining sector, making it a suitable choice for investors seeking exposure without the complexities of individual stock analysis [9][10]. - SLVP is recognized as a leading silver ETF, providing access to top-tier global silver mining companies, which may appeal to investors looking for higher dividend yields and lower costs [12][13].

Dubai - Mubasher: Emirates NBD has launched Emirates NBD-branded silver bars, expanding its precious metals portfolio for retail and high-net-worth investors seeking secure access to physical silver. The bars are available in denominations of 100 grams (g), 250g, 500g, and 1,000g, with high-purity silver (999.0 and 999.9) and the Emirates NBD hallmark ensuring authenticity and quality, according to a press release. This builds on the success of ‘Emirates NBD Gold,’ introduced in December 2025 as the UAE’s f ...

Core Viewpoint - TD Securities has maintained a "Hold" rating for Sprott Inc. while raising the price target to C$180 from C$176, indicating confidence in the company's growth potential in the precious metals sector [1][5] Financial Performance - Sprott reported a significant increase in Assets Under Management (AUM), reaching $59.6 billion by the end of 2025, which represents a 21% rise from $49.1 billion in September 2025 and an 89% increase from $31.5 billion at the end of 2024 [2] - The growth in AUM was attributed to market value appreciation and $3.9 billion in net sales, particularly in the Exchange Listed Products segment [2] Market Conditions - The year 2025 was favorable for precious metals, with gold, silver, platinum, and palladium outperforming traditional asset classes, reinforcing the strong fundamentals of precious metals as emphasized by Sprott's CEO [3] - The company's investment strategies in critical materials also performed well, driven by increasing investor demand [3] Stock Performance - Sprott's stock price has increased to $142.56, reflecting an 8.99% rise or $11.77, with fluctuations between $132.43 and $142.685 on the same day [4] - The stock has a 52-week high of $143 and a low of $39.33, with a market capitalization of approximately $3.68 billion and a trading volume of 263,847 shares [4]

Core Viewpoint - Sprott Inc. reported significant growth in Assets Under Management (AUM) and net income for the year ended December 31, 2025, driven by market value appreciation and strong demand for precious metals and critical materials [2][11][20]. AUM Highlights - AUM reached $59.6 billion as of December 31, 2025, representing a 21% increase from $49.1 billion as of September 30, 2025, and an 89% increase from $31.5 billion as of December 31, 2024 [2][3]. - The growth in AUM was attributed to market value appreciation across fund products and $3.9 billion in net sales, particularly in the Exchange Listed Products segment [2][3]. Revenue Highlights - Management fees for the quarter were $63.8 million, up 54% from $41.4 million for the same quarter in 2024, and $199 million for the full year, up 28% from $155.3 million in 2024 [6]. - Carried interest and performance fees for the quarter were $38.1 million, a significant increase from $2.5 million in the same quarter of 2024, and $54.7 million for the full year, up from $7.3 million in 2024 [6]. - Total net revenues for the year were $285.1 million, compared to $178.7 million in 2024, reflecting strong performance across various segments [20]. Expense Highlights - Net compensation expense for the quarter was $20.9 million, up 22% from $17 million in the same quarter of 2024, and $75.1 million for the full year, up 12% from $66.8 million in 2024 [5]. - Stock-based compensation expense for the quarter was $28.2 million, significantly higher than $5 million in the same quarter of 2024, due to a transition to a cash-settled stock-based compensation plan [5][21]. - SG&A expenses were $5.1 million for the quarter, a slight increase from $4.9 million in the same quarter of 2024, while full-year SG&A expenses decreased to $18.5 million from $18.8 million in 2024 [7]. Earnings Summary - Net income for the quarter was $28.7 million ($1.11 per share), up from $11.7 million ($0.46 per share) in the same quarter of 2024, and $67.3 million ($2.61 per share) for the full year, up 37% from $49.3 million ($1.94 per share) in 2024 [11][22]. - Adjusted EBITDA for the quarter was $42.1 million ($1.63 per share), an 88% increase from $22.4 million ($0.88 per share) in the same quarter of 2024, and $121.4 million ($4.71 per share) for the full year, up 43% from $85.2 million ($3.35 per share) in 2024 [11][24]. Subsequent Events - As of February 13, 2026, AUM increased to $70.1 billion, reflecting an 18% rise from $59.6 billion as of December 31, 2025, driven by $7.7 billion in market value appreciation and $2.8 billion in net inflows [11]. - The Board of Directors announced a quarterly dividend of $0.40 per share on February 18, 2026 [11].