Endeavour (EXK) Climbs 15.4% to Hit New High on Fresh Silver Peak

We recently published 10 Big Names With Explosive Gains That Investors Can’t Ignore. Endeavour Silver Corp. (NYSE:EXK) is one of the companies that soared by double- and triple-digits last week.

Endeavour Silver jumped by 15.38 percent week-on-week to hit a new all-time high as investor funds shifted to mining companies following the metal’s rally to a fresh 14-year record.

During the week, Endeavour Silver Corp. (NYSE:EXK) touched its highest 52-week price of $8.21 before trimming gains to end Friday’s trading at $7.80 apiece.

Last week, the spot prices of silver grew to $46, its highest level in 14 years, as investors turned optimistic that the US central bank would implement more interest rate cuts by the end of the year.

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Lower rates typically benefit precious metals like silver and gold, as interest rate cuts tend to weaken the US dollar, making the dollar-denominated metals much cheaper to foreign investors.

Endeavour Silver Corp. (NYSE:EXK) is one of the listed mining firms based in Canada, focusing on silver production. In the first six months of the year, it was able to produce 1.48 million ounces of silver and 7,755 ounces of gold for 2.5 million ounces of silver equivalent.

It also realized $85.3 million from the sale of 1.45 million oz of silver and 7,706 oz of gold, leading to a 46 percent increase in revenues from operations as compared with the same period last year.

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Disclosure: None. This article is originally published at Insider Monkey.