Endeavour Mining Faces Heightened Operational, Geopolitical Risks, Analyst Says: 'Challenging Position'
Portfolio Pulse from Priya Nigam
Endeavour Mining PLC (OTC:EDVMF) has paused operations at its Hounde gold mine due to a worker's strike. RBC Capital Markets downgraded the stock from Outperform to Sector Perform, citing increased operational and geopolitical risks, management changes, and higher costs. The price target was reduced from CA$48 to CA$40.
August 06, 2024 | 3:52 pm
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Endeavour Mining has paused operations at its Hounde gold mine due to a worker's strike. RBC Capital Markets downgraded the stock from Outperform to Sector Perform, citing increased operational and geopolitical risks, management changes, and higher costs. The price target was reduced from CA$48 to CA$40.
The combination of operational disruptions, geopolitical risks, and significant management changes has led to a downgrade by RBC Capital Markets. The reduced price target and increased costs further indicate a negative short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100