10 Best Small-Cap Gold Mining Stocks to Buy Now

8. Endeavour Silver Corp. (NYSE:EXK)

Number of Hedge Fund Holders: 19

Endeavour Silver Corp. (NYSE:EXK) operates as a mid-tier precious metals producer, focusing heavily on silver and gold mining in Mexico. The company runs two major sites – the Guanaceví and Bolañitos mines. It is also expanding with its flagship Terronera project in Jalisco.

For Q3 ended September 30, 2024, Endeavour Silver Corp. (NYSE:EXK) reported strong growth with $53 million in revenue, up 8% from the previous year. This increase in revenue came out as a result of higher metal prices. Yet the company hit some operational bumps, resulting in a $17 million net loss for the period. However, the adjusted income stood at $1.6 million – an improvement from the $8.3 million adjusted loss in Q3 2023.

In terms of production, the company produced 1.6 million silver equivalent ounces and maintained good financial health with $55 million in cash and $29 million in working capital. These positive factors, with ongoing expansions, helped push the company’s stock up by 108.38% over the past year as of the time of writing this article. Seeing a similar trajectory in the coming time, analysts remain upbeat with an average price target of $6.75, suggesting a 79.28% upside from current levels.

Endeavour Silver Corp. (NYSE:EXK) looks to strengthen its balance sheet by completing a $72.8 million bought deal in November 2024, which will fund its Pitarrilla project in Durango and support regular operations. Additionally, exploration at Bolañitos has shown promising results, confirming high-grade silver-gold deposits at the La Luz vein, which extends the mine’s life, simultaneously backing the company’s market position.

Furthermore, Endeavour Silver Corp. (NYSE:EXK) is determined to launch its flagship Terronera project. As of December 31, 2024, the project was 89.4% completed, with surface construction nearly finished. Full operations are expected to begin in early Q2 2025, after having experienced delays in structural steel delivery. Meanwhile, Guanaceví operations should return to full capacity soon, though after a ball mill failure temporarily reduced Q4 output.

Looking ahead, the company’s commitment to advancing projects and bolstering its balance sheet continues to build investor confidence. As such, Endeavour Silver remains among the best gold stocks for investors.