Endeavour Mining (TSE:EDV) Hits New 12-Month High After Dividend Announcement

Endeavour Mining Corp. (TSE:EDV)’s share price reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as C$58.75 and last traded at C$57.78, with a volume of 396558 shares changing hands. The stock had previously closed at C$56.78.

The newly announced dividend which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 23rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, September 26th. This represents a dividend yield of 116.0%. Endeavour Mining’s dividend payout ratio is 107.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EDV. National Bankshares boosted their target price on shares of Endeavour Mining from C$57.00 to C$70.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Royal Bank Of Canada raised shares of Endeavour Mining from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$34.00.

Endeavour Mining Price Performance

The stock has a market cap of C$13.75 billion, a PE ratio of 62.74 and a beta of 0.68. The company has a 50 day moving average price of C$48.50 and a two-hundred day moving average price of C$42.40.

About Endeavour Mining

Endeavour Mining PLC is a gold producer in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso. It holds a portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.