Endeavour Mining (TSE:EDV) Trading Up 5.5% After Dividend Announcement

Endeavour Mining Corp. (TSE:EDV) shares shot up 5.5% on Friday after the company announced a dividend. The stock traded as high as C$32.32 and last traded at C$32.30. 20,634 shares were traded during mid-day trading, a decline of 96% from the average session volume of 480,668 shares. The stock had previously closed at C$30.63.

The newly announced dividend which will be paid on Thursday, October 10th. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.561 per share. This represents a yield of 1.42%. The ex-dividend date of this dividend is Friday, September 13th. Endeavour Mining’s dividend payout ratio (DPR) is -115.15%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EDV shares. Royal Bank of Canada lowered Endeavour Mining from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$48.00 to C$40.00 in a report on Tuesday, August 6th. UBS Group upgraded Endeavour Mining to a “strong-buy” rating in a research report on Thursday, August 1st.

Endeavour Mining Stock Performance

The firm has a market cap of C$8.13 billion, a PE ratio of -32.73 and a beta of 0.90.

Endeavour Mining (TSE:EDV) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.19). Endeavour Mining had a negative return on equity of 3.62% and a negative net margin of 8.83%. The firm had revenue of C$761.83 million during the quarter, compared to analysts’ expectations of C$762.66 million. As a group, analysts expect that Endeavour Mining Corp. will post 4.0307018 EPS for the current fiscal year.

Endeavour Mining Company Profile

Endeavour Mining plc, together with its subsidiaries, operates as a gold mining company in West Africa. It primarily holds a portfolio of projects in Burkina Faso, Côte d’Ivoire, Senegal, and Mali. The company is based in London, the United Kingdom.