Endeavour Mining (LON:EDV) Stock Price Down 9.7% - What's Next?

Key Points

• Endeavour Mining's stock price dropped 9.7% to GBX 3,068 ($41.02) during trading, significantly lower than the previous close of GBX 3,398 ($45.43).
• Berenberg Bank increased their target price for Endeavour Mining from GBX 3,200 to GBX 4,300 while maintaining a "buy" rating, reflecting confidence in the stock's potential.
• The company, active in West Africa, is one of the largest gold producers in the region and has an average rating of "Buy" from analysts, with a consensus target price of GBX 3,650.

Endeavour Mining plc (LON:EDV - Get Free Report) shares were down 9.7% during trading on Wednesday . The stock traded as low as GBX 3,012 ($40.27) and last traded at GBX 3,068 ($41.02). Approximately 790,112 shares traded hands during trading, a decline of 31% from the average daily volume of 1,153,031 shares. The stock had previously closed at GBX 3,398 ($45.43).

Analyst Ratings Changes

Several equities research analysts have weighed in on EDV shares. Berenberg Bank upped their target price on Endeavour Mining from GBX 3,200 to GBX 4,300 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 3,000 price target on shares of Endeavour Mining in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of GBX 3,650.

Endeavour Mining Price Performance

The business's 50-day simple moving average is GBX 2,894.86 and its two-hundred day simple moving average is GBX 2,444.89. The stock has a market cap of £7.47 billion, a price-to-earnings ratio of 34.09 and a beta of 0.92.

About Endeavour Mining

Endeavour Mining is one of the world's senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d'Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

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