Stock price when the opinion was issued
If he was going to buy a silver producer, this would be it. The best of the Canadian producers. His preference is Wheaton Precious Metals as a royalty play.
Doesn't follow this one closely, so he has no useful insights. But he does follow EDR, a smaller cap silver company, which looks interesting.
Precious metals is an area of long term opportunities. We saw a great run for a couple years but in the last year, it has gone sideways to down. Enthusiasm has waned and is affected by the bitcoin craze. If Bitcoin loses sails, the inflation hedge money will come back to precious metals. Outlook for gold is good in the next years with governments adding debt. Trading at a low valuation. Has a compelling free cashflow. There is political risk however. Will perform better once gold picks up.
What is the outlook for Endeavour Mining? They are producers out of West Aftrica. "At 90 cents you have to like the name".The potential for free cash flow for next year looks good. He does have a position. Good buy here. Sees 2/3 or 75% of net asset values as a realistic target in the next 12 months.