Endeavour Mining, a leading West-Africa-focused gold miner, sets sights on free cash flow and organi

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  • Endeavour Mining and others expected to get a lift from likely inclusion in the FTSE 250
  • Barclays sees upside for catalyst-rich Endeavour Mining
Endeavour Mining Corp -

Quick facts: Endeavour Mining PLC

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Endeavour Mining PLC is one of the world’s top ten senior gold producers and the largest in West Africa, with producing mines in Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets on the highly prospective Birimian Greenstone Belt across West Africa.

26 Aug 2021

Although the likely (and short-lived) promotion of bid stocks Meggit PLC and Morrison (Wm) Supermarkets PLC to the FTSE 100 garnered most of the press commentary, a few interesting stocks are set to enter the FTSE 250 for the first time in the next reshuffle.

Although things may yet change before 31 August, when the final additions and deletions to the FTSE 100 and FTSE 250 are calculated, FTSE Russell, the global index provider, released “indicative changes” to the FTSE 250 index earlier this week that included (), (), (), () and (, , , ).

Endeavour Mining is perhaps especially interesting given that FTSE Russell turfed out Just Eat Takeaway.com from the FTSE 100 after determining that the company’s nationality should be reassigned from the UK to the Netherlands.

In contrast, the nationality of (, , , ) has been reassigned from Canada to the UK, paving the way for its probable entry into the FTSE 250 next month.

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04 Aug 2021

“These are a good set of results and we maintain a buy recommendation and price target of 2,800p per share based on multiples of 1.5 times net asset value and eight times EBITDA,” said broker Berenberg after (, , , ) delivered an upbeat set of second quarter results.

“Production a beat driven by Hounde and Ity,” continued Berenberg, referring to two of Endeavour’s gold mines in West Africa.

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04 Aug 2021

(, , , ) () boosted production from its gold mines in West Africa in the second quarter of by 18% to 409,000 ounces of gold, while all-in sustaining costs decreased by US$15 per ounce to US$853 per ounce.

Total production for the first half of 2021 amounted to 756,000 ounces of gold and an all-in sustaining cost of US$860 per ounce.

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23 Aug 2021

Barclays described (, , , ) as “catalyst-rich” as it started it coverage of the stock with an ‘overweight’ recommendation.

With a GBP23.50 price target Barclays’ investment banking arm sees some 40% upside to the miner’s current price of GBP16.70.

In an initiation note, Barclays highlighted the discount implied by Endeavour’s market value.

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Endeavour Mining PLC (LON.EDV) presenting at the proactive One2One Virtual Forum

Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) (LON.EDV) presenting at the proactive One2One Virtual Forum

26th August 2021

As a leading global gold producer and member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering…

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