VANCOUVER (miningweekly.com) – Dual-listed precious metals producer Endeavour Silver has swung to a fourth-quarter profit on the back of stronger output and higher metals prices.

Headquartered in Vancouver, and maintaining equity listings on the TSX and NYSE, Endeavour announced net earnings of $2.7-million, or $0.02 a share, compared with a loss of $5.2-million, or $0.04 a share, in the comparable period of 2016.

The company reported on Monday that silver output from its mines in Mexico increased by 32% year-on-year to 1.44-million ounces, and gold output increased by 28% to 14 577 oz.

The Bolañitos mine put in a strong performance, lifting silver production by 51% to 280 712 oz in the period, compared with 185 813 oz in the fourth quarter of 2016. Gold output at the mine also rose 22% to 5 926 oz in the quarter. Further, silver production at the El Cubo mine was 612 133 oz in the fourth quarter - an increase of 69% compared with 362 324 oz produced in the comparable period a year earlier, while gold output also climbed 44% to 6 128 oz.

Global all-in sustaining costs fell a significant 37% to $12.70/oz of payable silver, net of gold credits.

"After a tough start to the year in the first quarter, Endeavour posted three consecutive quarters of improved production, making the fourth quarter our best of the year," CEO Bradford Cooke said in a news release.

He added that ore grades and throughput both improved in the second half.

Endeavour Silver further advised that 2017 silver-equivalent output met the low end of its original guidance and the high end of the company's revised guidance, despite overcoming operational challenges at the Guanacevi mine.

For full-year 2017, net earnings increased by 148% to $9.7-million, or $0.08 a share, compared with $3.9-million, or $0.03 a share, in 2016. Silver output fell 9% year-on-year to 4.92-million ounces, while gold output decreased 8% to 53 007 oz.

The company's NYSE-listed equity rose more than 6% on Monday to an intraday high of $2.40 a share.