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On Wednesday, RBC Capital analysts upgraded Endeavour Mining stock (LSE:EDV) from a Sector Perform to an Outperform rating. This change comes alongside an increase in the price target to £30.00 from £23.50.
The analysts highlighted that the completion of ramp-ups at the Lafigue and Sabodola projects positions Endeavour Mining at a free cash flow inflection point. They anticipate the company’s 2025 dividend yield to potentially double that of its peers.
RBC Capital noted the possibility of Endeavour Mining returning 10% of its market capitalization via dividends and buybacks in 2025 and 2026. This potential return, coupled with upcoming catalysts such as the Assafou DFS and the Sabodola technical review, contributed to the rating upgrade.
The revised price target reflects a 28% upside potential, according to the analysts, who included a new price deck in their evaluation.
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