Refining Forecasts Ahead of Results

Endeavour Mining’s Q122 results are scheduled for distribution to the market on 5 May 2022. Prior to their release, Edison Group has refined its forecasts for both the quarter in question plus the remaining three quarters of the year to take into account recent changes to the gold price (US$1,890/oz at the time of writing cf US$1,926/oz previously) and some very minor operational considerations at its mines. Based on the average multiples of its gold major peers, Edison estimates a value for Endeavour of US$36.62 (C$46.97 or £29.39) per share relative to a current price of US$24.23. Following its acquisitions of SEMAFO and Teranga, Endeavour Mining has become one of the top 10 major gold producers globally.


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