Pandora stock was down 6.7% in afternoon trading, following two days of gains. Shares fell 46% in 2025, and are down 26% year-to-date."The most pernicious problem will be a long-lasting hesitancy to engage in the name, given silver price moves. This means that even if silver retrenches and the stock lifts on mechanical earnings momentum, investor engagement will be slow in returning," the note added."The confluence of a more pressured consumer and heightened silver mean the business is caught between a rock ...

Core Viewpoint - Endeavour Silver Corp. reported strong revenue but disappointing earnings, leading to a decline in stock price despite positive revenue growth [1][2][3] Financial Performance - The company achieved revenue of $85.30 million, exceeding expectations of $81.48 million, and reflecting a 46% year-over-year increase [2] - Negative earnings per share (EPS) of three cents were reported, contrary to analyst expectations of positive EPS of one cent, marking the second consecutive quarter of disappointing earnings [3] Management and Operational Concerns - Concerns have arisen regarding the company's management, particularly its ability to achieve profitability amid rising silver prices, with consistent profitability not expected until late 2025 or beyond [4] - The company cited three main reasons for negative earnings: sharp drop in silver production, lower realized silver prices, and higher costs due to inflation and ongoing project spending [5][6] Market Dynamics - The realized prices for silver can be affected by provisional pricing contracts, which may lead to negative adjustments if market prices fluctuate between shipment and final settlement [7][9] - Strong spot prices do not always equate to strong realized prices, emphasizing the importance of timing and contract terms in mining revenue [9] Future Outlook - Endeavour Silver's investor presentation titled "Growth on the Horizon" highlighted potential catalysts for earnings improvement, although meaningful impacts may not be seen until late 2025 or early 2026 [10][11] - The Terronera mine is expected to begin production in late 2025 or early 2026, projected to more than double silver-equivalent output and improve cost efficiency [13] - Upcoming access to higher-grade ore at Guanaceví and Bolañitos is anticipated to enhance production and margins [13] Analyst Sentiment - Analysts maintain a bullish outlook on Endeavour Silver, with a consensus price target of $8.33, indicating a potential upside of over 51% from the current price of $5.56 [11][12] - For investors seeking exposure to mining stocks without the risks associated with a single miner, the VanEck Gold Miners ETF is suggested as an alternative [12]