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On Monday, BMO Capital Markets adjusted its outlook on Endeavour Mining Corp. (EDV:CN) (OTC: EDVMF), reducing the price target to Cdn$46.00 from the previous Cdn$48.00, while retaining an Outperform rating on the stock. The adjustment comes after the firm reviewed Endeavour’s financial results for the year 2024. The mining company, with a market capitalization of $5.1 billion, has demonstrated strong revenue growth of 26.5% in the last twelve months.
Raj Ray of BMO Capital expressed continued confidence in Endeavour Mining, citing the company’s consistent and cost-effective asset base. Ray highlighted the mining company’s positive trajectory for organic growth opportunities, which has been bolstered by the completion of major projects in Côte d’Ivoire and Senegal during the previous year. According to InvestingPro analysis, the stock appears undervalued, with analysts maintaining a strong buy consensus.
Endeavour Mining has reportedly reached a free cash flow (FCF) inflection point, following the successful completion of the Lafigué project in Côte d’Ivoire and the SabodalaMassawa BIOX project in Senegal in 2024. According to BMO Capital, this positions Endeavour favorably in terms of capital returns when compared to its peers. The company’s strong financial health is reflected in its EBITDA of $1.23 billion and impressive gross profit margin of 55.2%. For deeper insights into Endeavour’s financial metrics and growth potential, investors can access the comprehensive Pro Research Report available on InvestingPro.
The firm also updated its cash flow estimates for Endeavour Mining after the company provided guidance on withholding taxes for the year 2025. This update led to a slight decrease in BMO Capital’s target price for the company’s shares to Cdn$46.00. Despite the reduction, BMO Capital’s analysis indicates that Endeavour Mining remains a top pick within the sector, with analysts forecasting a return to profitability this year.
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