10 Best Mining Penny Stocks to Buy Now

4. Endeavour Silver Corp. (NYSE:EXK) 

Number of Hedge Fund Holders: 19

Share Price as of the close of March 7: $3.98

Endeavour Silver Corp. (NYSE:EXK) is a producer of mid-tier precious metals with a focus on silver and gold mining. With its key assets in Mexico, the company is advancing its flagship Terronera project in Jalisco and operates the Guanaceví and Bolañitos mines.

Backed by higher metal prices, the company recorded $53 million in revenue for Q3 ended September 30, 2024, which is an 8% year-on-year increase. Unfortunately, due to operational hurdles and rising costs, the company faced a net loss of $17 million. Marking a turnaround from the $8.3 million adjusted loss in Q3 2023, the adjusted income was reported to be $1.6 million.

Moreover, Endeavour Silver Corp. (NYSE:EXK) boosted its balance sheet to fund the Pitarrilla project in Durango and aid general operations by completing a $72.8 million bought deal offering in November 2024. In addition to that, exploration success at Bolañitos has secured high-grade silver-gold mineralization at the La Luz vein, extending mine life.

Moving forward, commissioning the Terronera project, which reached 89.4% completion as of December 31, 2024, is the company’s primary focus. Full commissioning is expected in early Q2 2025, followed by delays in structural steel delivery, as surface construction is almost complete. After a ball mill failure that impacted Q4 output in Guanaceví, operations are predicted to return to their maximum capacity in the upcoming weeks.

Furthermore, with Endeavour Silver Corp. (NYSE:EXK) retaining a cash position of $55 million and working capital of $29 million, silver equivalent production attained 1.6 million ounces in Q3. Over the past year, as of writing this article, EXK’s 123.95% stock appreciation was primarily driven by its business growth and ongoing development progress. Looking ahead, analysts project an average price target of $6.75, depicting a 79.28% upside from current levels.

Thus, Endeavour Silver Corp. (NYSE:EXK) remains one of the best penny stocks to buy now for investors seeking silver exposure, due to the company’s growing silver reserves, improving financial health, and expansion projects.