Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of precious-metal miner Endeavour Silver
So what: This morning, Endeavour announced earnings for its first quarter, and the numbers looked pretty darn good. Revenues jumped by 94% year over year to $35 million, while adjusted earnings rocketed from $1.1 million last year to $14.5 million. On a per-share basis, the company registered a $0.18 profit, which was easily better than the $0.12 that Wall Street was expecting.
Now what: With results like that, why in the world would shares be down today? A key driver for the company's profit gains was the 96% increase in the realized silver price versus last year. Over the past week, though, silver has taken a beating, as evidenced by the explosion of volume for the iShares Silver Trust
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