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Endeavour Mining Ord (TSE:EDV)
TSX:EDV
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Endeavour Mining
(TSX:EDV)
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Rating:69Neutral
Price Target:
C$55.00
▼(-16.26% Downside)
Endeavour Mining's overall stock score is driven by strong financial performance and positive earnings call sentiment, highlighting robust production and shareholder returns. However, technical indicators suggest potential overbought conditions, and the high P/E ratio indicates possible overvaluation, which tempers the overall score.
Positive Factors
Revenue Growth
Consistent revenue growth reflects the company's ability to expand its market presence and effectively capitalize on its gold production capabilities, ensuring long-term financial stability.
Cash Flow Generation
Strong free cash flow generation supports the company's ability to reinvest in growth opportunities, enhance shareholder returns, and maintain financial flexibility.
Exploration and Growth Pipeline
A robust exploration and growth pipeline, including the Assafou Project, positions Endeavour Mining for future expansion and resource development, ensuring long-term growth potential.
Negative Factors
Increased Costs
Rising costs can pressure margins and profitability, potentially impacting the company's ability to maintain competitive pricing and operational efficiency over time.
Lower H2 Production Outlook
A lower production outlook for H2 may limit revenue growth and affect the company's ability to meet annual production targets, impacting investor confidence and financial performance.
VAT Receivables Build-up
Accumulating VAT receivables can strain cash flow and liquidity, potentially hindering the company's ability to efficiently allocate resources and manage working capital.
Endeavour Mining (EDV) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$15.86B
Dividend Yield2.57%
Average Volume (3M)814.28K
Price to Earnings (P/E)48.6
Beta (1Y)1.16
Revenue Growth78.26%
EPS GrowthN/A
CountryCA
Employees5,659
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)1.04
Shares Outstanding241,429,720
10 Day Avg. Volume786,343
30 Day Avg. Volume814,278
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$68.88Price Target Upside4.87% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
Endeavour Mining Business Overview & Revenue Model
Company DescriptionEndeavour Mining plc, together with its subsidiaries, operates as a gold mining company in West Africa. Its project portfolio includes 90% owned Houndé, Mana, Boungou, and Wahgnion mines in Burkina Faso; 85% owned Ity mine located in Côte d'Ivoire; 90% owned Sabodala-Massawa mine situated in Senegal; and Fetekro, Kalana, Bantou, Nabanga, and Afema development projects. The company was incorporated in 2021 and is based in London, the United Kingdom.
How the Company Makes MoneyEndeavour Mining generates revenue primarily through the extraction and sale of gold. The company operates multiple mines, processing facilities, and exploration projects, which contribute to its gold production output. Revenue is driven by the volume of gold produced and the prevailing market prices for gold. Endeavour Mining also focuses on operational efficiencies, cost control, and strategic mine development to maximize profitability. Additionally, partnerships with local governments and adherence to regulatory frameworks help ensure stable operations and contribute to its earnings. The company may also engage in hedging activities to manage price volatility and secure favorable pricing for its gold sales.
Endeavour Mining Earnings Call Summary
Earnings Call Date:Jul 31, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 13, 2025
Earnings Call Sentiment Positive
Endeavour Mining's earnings call reflected a generally positive sentiment, underlined by strong production and financial performance in H1 2025. The company achieved record free cash flow and shareholder returns, with successful exploration efforts bolstering future growth prospects. However, challenges such as increased costs, expected lower production in H2, and VAT receivables build-up were noted. The overall sentiment remains positive despite these challenges.Q2-2025 Updates
Positive Updates
Strong Gold Production and Cost Management
In H1 2025, Endeavour produced 647,000 ounces of gold at an average all-in sustaining cost of $1,281 per ounce, a 16% improvement in throughput year-on-year, placing them on track to meet full-year guidance.
Record Free Cash Flow and Shareholder Returns
Endeavour generated $514 million of free cash flow in H1, equivalent to $794 per ounce of gold produced, allowing for a record first-half dividend of $150 million and $69 million in share buybacks.
Increased EBITDA and Margin
Adjusted EBITDA increased by 35% to nearly $1.2 billion from H2 2024, with a 5 percentage point rise in adjusted EBITDA margin to 57%.
Exploration Success and Growth Pipeline
The Assafou Project remains on track for DFS completion by early 2026, with ongoing exploration across various sites showing promising results.
Negative Updates
Increased Costs and Lower H2 Production Outlook
Q2 all-in sustaining costs rose to $1,458 per ounce due to higher gold prices affecting royalties and increased power costs, with lower production expected in H2 due to seasonal factors.
VAT Receivables Build-up
VAT receivables increased to $176 million, primarily in Burkina Faso, with efforts ongoing to offset or factor these receivables.
Potential Increase in Cote d'Ivoire Royalty Rates
There is ongoing negotiation with the government regarding a proposed 2% increase in royalty rates.
Company Guidance
During the second quarter of 2025, Endeavour Mining reported robust financial and operational performance, aligned with their previously set guidance. The company produced 647,000 ounces of gold in the first half of the year at an average all-in sustaining cost (AISC) of $1,281 per ounce. This production represents a 16% year-on-year increase when excluding the production from the new Lafigué mine. Endeavour generated $514 million in free cash flow during H1, equating to $794 per ounce of gold produced, and announced shareholder returns totaling $219 million, including a record half-year dividend of $150 million and $69 million in share buybacks. The company's leverage stands at 0.23x net debt to adjusted EBITDA, significantly below their target of 0.5x. Looking ahead, Endeavour maintains a strong focus on maximizing free cash flow and delivering enhanced shareholder returns, while advancing their organic growth pipeline, notably the Tier 1 Assafou Project, which is on track for feasibility study completion by early 2026.Endeavour Mining Financial Statement Overview
Summary
Endeavour Mining demonstrates robust revenue growth and solid profitability margins, particularly in gross profit and EBIT. The balance sheet is stable with moderate leverage, and cash flow generation is strong, though there is room for improvement in net profit margins and cash conversion efficiency.Income Statement
Endeavour Mining has shown strong revenue growth with a 13.91% increase in the TTM period. The gross profit margin is solid at 43.40%, and the EBIT margin is healthy at 24.69%. However, the net profit margin is relatively low at 6.22%, indicating room for improvement in cost management or operational efficiency.75
Positive
Balance Sheet
The company maintains a moderate debt-to-equity ratio of 0.40, suggesting a balanced approach to leveraging. The return on equity is modest at 8.06%, indicating efficient use of equity to generate profits. The equity ratio stands at 50.34%, reflecting a stable financial structure.70
Positive
Cash Flow
Operating cash flow is strong, with a coverage ratio of 1.41, indicating good cash generation relative to net income. Free cash flow growth is positive at 2.01%, but the free cash flow to net income ratio of 0.56 suggests potential for better cash conversion efficiency.68
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.70B | 2.68B | 2.11B | 2.07B | 2.64B | 1.42B |
| Gross Profit | 1.60B | 868.70M | 745.30M | 759.70M | 1.50B | 750.60M |
| EBITDA | 1.65B | 857.90M | 864.70M | 1.20B | 1.14B | 522.70M |
| Net Income | 229.90M | -300.20M | -208.90M | -57.30M | 215.50M | 73.10M |
Balance Sheet | ||||||
| Total Assets | 5.83B | 5.51B | 5.86B | 6.41B | 6.77B | 3.88B |
| Cash, Cash Equivalents and Short-Term Investments | 669.80M | 418.60M | 517.20M | 962.30M | 906.20M | 644.97M |
| Total Debt | 1.18B | 1.17B | 1.11B | 871.80M | 893.00M | 725.47M |
| Total Liabilities | 2.60B | 2.52B | 2.31B | 2.33B | 2.39B | 1.64B |
| Stockholders Equity | 2.93B | 2.71B | 3.23B | 3.66B | 3.92B | 2.06B |
Cash Flow | ||||||
| Free Cash Flow | 780.50M | 257.60M | -116.10M | 503.70M | 643.60M | 507.64M |
| Operating Cash Flow | 1.38B | 943.30M | 646.50M | 1.02B | 1.17B | 748.93M |
| Investing Cash Flow | -503.60M | -630.00M | -820.80M | -521.40M | -511.70M | -160.11M |
| Financing Cash Flow | -700.20M | -439.10M | -276.60M | -385.00M | -431.10M | -70.71M |
Endeavour Mining Technical Analysis
Positive
65.68
Price Trends
52.13
Positive
46.86
Positive
39.44
Positive
Market Momentum
3.29
Negative
75.57
Negative
85.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EDV, the sentiment is Positive. The current price of 65.68 is above the 20-day moving average (MA) of 58.34, above the 50-day MA of 52.13, and above the 200-day MA of 39.44, indicating a bullish trend. The MACD of 3.29 indicates Negative momentum. The RSI at 75.57 is Negative, neither overbought nor oversold. The STOCH value of 85.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:EDV.
Endeavour Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $26.24B | 30.46 | 52.25% | 2.76% | 63.08% | 177.42% | |
78 Outperform | C$8.81B | 15.55 | 10.82% | ― | 46.99% | 144.05% | |
73 Outperform | $11.84B | 10.62 | 26.28% | ― | 63.67% | 466.20% | |
72 Outperform | $22.14B | 46.01 | 10.18% | 0.27% | 38.30% | 68.57% | |
69 Neutral | C$15.86B | 48.56 | 8.03% | 2.57% | 78.26% | ― | |
62 Neutral | $11.01B | ― | -12.34% | 1.68% | 15.08% | -204.35% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
TSE:EDV
Endeavour Mining
65.68
33.10
101.60%
TSE:ELD
Eldorado Gold
43.37
17.66
68.69%
TSE:IMG
IAMGOLD
18.76
10.53
127.95%
TSE:BTO
B2Gold
8.32
3.72
80.79%
TSE:AGI
Alamos Gold
52.65
23.74
82.15%
TSE:LUG
Lundin Gold
108.74
75.66
228.73%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.