Berenberg lowers target price on Endeavour Mining
Analysts at Berenberg lowered their target price on
"We update our Endeavour Mining model following its Q4 and FY24 preliminary results, which saw the group deliver a "solid end to a challenging year".
The German bank added that FY25 guidance for production, unit costs and capex were broadly in line with estimates.
"The stock closed up by 7.2% on the day, although we caveat that it was buoyed by the USD gold price testing record highs once more, which lifted the sector materially," said Berenberg.
"Our price targets trim to GBP2,300/CAD40, based on 1.5x NAV and 5x 12-month forward EBITDA, and, with 39% upside, we reiterate our 'buy' rating. The shares are currently trading on 1.18x NAV and 3.2x 2025 EBITDA."
Reporting by Iain Gilbert at Sharecast.com
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.