Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has made “a good start in rebuilding credibility with investors after a 2024 that didn’t live up to the gold producer’s usual track record of delivering versus guidance, that’s according to analysts at UBS.
The Swiss bank repeated a ‘Buy’ recommendation and has upped its price target from 2,500p to 2,800p – compared to a prevailing share price of 2,078p.
Yesterday, the miner announced first quarter results that showed a lucrative three months, amid strengthening gold prices.
It reported strong first-quarter results with production of 341,000 ounces of gold, at an all-in sustaining cost of $1,129 per ounce. Earnings (adjusted EBITDA) were up 12% over the previous quarter at $613 million. Free cash flow reached a record $409 million, marking a 53% increase from the prior quarter.
UBS reckons gold equities in general, and Endeavour in particular, are attractively…
