National Bank of Canada Keeps Endeavour Silver's Outperform Rating, $16 Price Target

11:03 AM EDT, 09/26/2025 (MT Newswires) -- National Bank of Canada Thursday retained Endeavour Silver (EXK) 's outperform rating and $16 price target.

Endeavour announced drill results from its ongoing exploration program at the Kolpa mine in Peru, which the bank valued at $205 million, making up 11% of the company's overall asset net asset value.

Highlight intercepts include 247 grams per tonne silver, 0.77% lead, 10.70% zinc and 0.55% copper over 8.2 meters, and 266 g/t silver, 1.34% lead, 4.73% zinc and 0.23% copper over 5.2 meters.

National Bank said the results support its expectation for resource growth, with several intercepts delivering silver, zinc and copper grades above the latest historical resource estimate.

"We highlight that, in our view, Kolpa was under-invested on the exploration front under its prior owners, and with Endeavour's larger exploration budget and experienced and capable exploration team, the project shows potential to go beyond our current 10-year mine life estimate," National Bank said.

Endeavour Silver (EXK) traded 2.8% higher at last look Friday to $10.94 per share on the Toronto Stock Exchange.

Price: 11.02, Change: +0.38, Percent Change: +3.57

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