Endeavour (EXK) Soars 15% on Silver Boost

SI=F +1.49% EXK -3.78% GC=F +0.38% DX-Y.NYB -0.28% GSVRF +4.42%

We recently published 10 Stocks Racking Up Big Gains. Endeavour Silver Corp. (NYSE:EXK) is one of the top performers of last week.

Endeavour rallied for a fifth straight session on Friday, surging 15.20 percent to end at $9.93 apiece, mimicking the surge in silver prices amid renewed expectations of an interest rate cut.

The stock rallied alongside its counterparts after spot prices of silver surged by 5.81 percent on Friday at $56.5003, as traders positioned their portfolios ahead of an expected interest rate cut on December 10—the last Federal Open Market Committee meeting for the year.

Precious metals typically benefit from a lower interest rate, as it weakens the US dollar, making gold and silver much cheaper and more attractive to foreign investors.

Photo by Scottsdale Mint on Unsplash

In other recent news, Endeavour Silver Corp. (NYSE:EXK) announced plans to sell its Bolañitos silver and gold mine project for $50 million to Guanajuato Silver Company Ltd.

Under the agreement, Guanajuato would acquire all outstanding shares of Mina Bolañitos, SA de CV—which owns and operates the mine in Mexico—for $0.2709413 apiece.

Endeavour Silver Corp. (NYSE:EXK) said the initiative was in line with its plans to focus on the Terronera and Pitarrilla projects, also located in Mexico.

“By focusing our resources on our core silver assets, particularly delivering at Terronera and advancing the world-class Pitarrilla project, we are sharpening our operational focus and positioning the company for sustainable growth,” said Endeavour Silver Corp. (NYSE:EXK) Chief Executive Officer Dan Dickson.

While we acknowledge the potential of EXK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.