Why Endeavour Silver Stock Jumped 10% Today
Shares of silver and gold miner Endeavour Silver (NYSE: EXK) rose roughly 10% in morning trading Wednesday. As of just before 3 p.m. EST, that gain was still holding firm. The likely immediate cause for the share price surge was a gain in commodity prices, but a business update the company delivered earlier this month probably played a role, too.
About half of Endeavour Silver's top line comes from the sale of silver, with the rest largely derived from gold. That's a heavy weighting toward silver compared to many of its peer precious metals miners. Moreover, silver tends to be more volatile price-wise than gold, so the stocks of silver-focused miners often fluctuate quite a bit as well. Both gold and silver were trading higher Wednesday.
Image source: Getty Images.
Source Fool.com
