10 Stocks Racking Up Big Gains

2. Endeavour Silver Corp. (NYSE:EXK)

Endeavour rallied for a fifth straight session on Friday, surging 15.20 percent to end at $9.93 apiece, mimicking the surge in silver prices amid renewed expectations of an interest rate cut.

The stock rallied alongside its counterparts after spot prices of silver surged by 5.81 percent on Friday at $56.5003, as traders positioned their portfolios ahead of an expected interest rate cut on December 10—the last Federal Open Market Committee meeting for the year.

Precious metals typically benefit from a lower interest rate, as it weakens the US dollar, making gold and silver much cheaper and more attractive to foreign investors.

In other recent news, Endeavour Silver Corp. (NYSE:EXK) announced plans to sell its Bolañitos silver and gold mine project for $50 million to Guanajuato Silver Company Ltd.

Under the agreement, Guanajuato would acquire all outstanding shares of Mina Bolañitos, SA de CV—which owns and operates the mine in Mexico—for $0.2709413 apiece.

Endeavour Silver Corp. (NYSE:EXK) said the initiative was in line with its plans to focus on the Terronera and Pitarrilla projects, also located in Mexico.

“By focusing our resources on our core silver assets, particularly delivering at Terronera and advancing the world-class Pitarrilla project, we are sharpening our operational focus and positioning the company for sustainable growth,” said Endeavour Silver Corp. (NYSE:EXK) Chief Executive Officer Dan Dickson.