10 Best Gold Penny Stocks to Buy Now

5. Endeavour Silver Corp. (NYSE:EXK)

Number of Hedge Fund Holders: 19

Endeavour Silver Corp. (NYSE:EXK) is a mid-tier precious metals company with key operations in Mexico at the Guanaceví and Bolañitos mines. It is advancing its main Terronera project in Jalisco while maintaining a diverse exploration portfolio across Mexico, Chile, and the U.S. The company aims to increase production and cement its spot as a top silver producer and one of the best penny stocks.

For Q3 ending September 30, 2024, revenue increased 8% year-over-year to $53 million, driven by higher silver and gold prices. Despite this, the company faced operational and cost-related challenges, resulting in a $17 million net loss. Silver-equivalent output for the quarter reached 1.6 million ounces, with the company holding $55 million in cash and $29 million in working capital, giving it a stable base for growth.

Endeavour Silver Corp. (NYSE:EXK) strengthened its finances with a recent $72.8 million bought-deal offering. These funds will help advance the Pitarrilla project in Durango and support ongoing work. Meanwhile, exploration at Bolañitos found rich silver-gold deposits in the La Luz vein, which could extend the mine’s life significantly.

The Terronera project approached 90% completion by December 31, 2024. Surface work is almost done, with a full start-up expected in early Q2 2025, though some delays occurred due to delays in steel deliveries. Meanwhile, the Guanaceví mine faced a setback in Q4 due to a ball mill failure but should return to full capacity soon, boosting production.

With these improvements and project advances, Endeavour Silver Corp. (NYSE:EXK) remains among the best penny stocks for investors looking at the mining market.