Earnings‑margin snapshot
Endeavour Silver’s Q2 2025 release shows an adjusted EBITDA margin of roughly 35 % for the six‑month period (US$ 85 million EBITDA on US$ 245 million revenue). By contrast, the broader silver‑producer universe is still operating at a mid‑30 % range on average – First Majestic Silver (≈ 32 %), Pan American Silver (≈ 30 %) and Hecla Mining (≈ 31 %). In other words, Endeavour’s margin is 3–5 percentage points above the sector median, reflecting a tighter cost base and a relatively higher realized silver price (US$ 23.80 lb versus the sector’s ≈ US$ 22.5 lb).
Trading implications
The premium margin signals that Endeavour can absorb modest cost‑inflation or a slight dip in spot silver without eroding profitability, a rare advantage in a sector still wrestling with higher power and labor inputs. With the stock trading near its 52‑week high and the price still below the 200‑day moving average, the upside potential is still present. A long‑position or a buy‑on‑dip at current levels (≈ US$ 12.30) could capture the margin‑lead advantage, especially if the next earnings window confirms the margin trend. Conversely, a breach below the 200‑day line would test whether the margin edge can sustain the price, so a tight stop just under the recent swing low (≈ US$ 11.80) would protect against a sector‑wide pull‑back.