Endeavour Mining (TSE:EDV) Hits New 52-Week High Following Dividend Announcement

Shares of Endeavour Mining Corp. (TSE:EDV) 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 trading hands. The stock had previously closed at C$56.78.

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

Wall Street Analyst Weigh In

EDV has been the subject of several recent research reports. 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. National Bankshares raised their price objective on shares of Endeavour Mining from C$57.00 to C$70.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Endeavour Mining currently has a consensus rating of “Buy” and a consensus target price of C$34.00.

Endeavour Mining Stock Up 1.5%

The business’s fifty day simple moving average is C$48.20 and its two-hundred day simple moving average is C$42.23. The company has a market cap of C$13.87 billion, a price-to-earnings ratio of 63.31 and a beta of 0.68.

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.