Why Endeavour Silver Stock Jumped as Much as 10% Today
Shares of silver and gold miner Endeavour Silver (NYSE: EXK) were higher by roughly 10.5% at 1 p.m. EDT on Monday. There wasn't any particular news out of the company today; however, there was some notable movement in the precious metals markets.
Gold prices were up by roughly 1.5%, which is a material move for the barbarous metal. However, as is often the norm, the price of silver moved even more dramatically, up 4.5% or so. Given that Endeavour Silver's top and bottom lines are tied to the commodities it produces, its stock rose along with the metals. In fact, miners tend to be leveraged to commodity price moves given the nature of the mining business.
Image source: Getty Images.
Source Fool.com