Why Endeavour Silver Stock Crashed Today
Endeavour Silver (NYSE: EXK) stock crashed today and was trading 12.4% lower as of 12:30 p.m. ET. Prices of silver were trending lower as well, but that's not the reason behind the silver stock's fall.
Endeavour Silver operates two silver-gold mines in Mexico. The stock has been holding up well since March as investors expected strong numbers from the company after a solid fourth quarter. This morning, though, the miner reported lower revenue and a sharp drop in earnings for its first quarter.
Endeavour Silver's revenue fell 4% year over year in Q1 despite higher sales volumes for gold. Its net income plunged 45% to $6.5 million, with management putting the blame on higher raw material and labor costs and a stronger Mexican peso.
Source Fool.com
