Endeavour Mining plc EDV

MaterialsMetals & MiningUnited Kingdom

Last close 69.79 CAD on Nov 2, 2026, +1.7% year to date

Quant rating

Quant rating A Rank 8 of 154 in Materials

Growth B 27 of 154
Valuation B 33 of 154
Quality A 9 of 154
Revisions B 34 of 154
Momentum B 40 of 154

Wall Street consensus Buy (1.82)Average target 97.72 CAD +40.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 16.9B
Enterprise value: 17.0B
52-week range: 53.37 – 98.71
3-year range: 21.47 – 98.71
Dividend yield: 3.78%
Beta (5 years): 1.17
Shares outstanding: 242M
Next earnings: Nov 12, 2026

About the company

Endeavour Mining plc is a United Kingdom-based multi-asset gold producer focused in West Africa. The Company has five operating assets consisting of the Hounde and Mana mines in Burkina Faso, the Ity and Lafigue mines in Cote d’Ivoire, and the Sabodala-Massawa mine in Senegal, two greenfield development projects (Assafou and Kalana) in Cote d’Ivoire and Mali and a portfolio of exploration assets on the prospective Birimian Greenstone Belt across Burkina Faso, Cote d’Ivoire, Mali and Senegal. The Hounde mine is located in the northern part of the prospective Hounde Greenstone Belt, approximately 60 kilometers (km) south of the Mana mine. The Ity mine is located in western Cote d'Ivoire, 480 km west-northwest from Abidjan, in the prefecture of Zouan-Hounien. The Sabodala-Massawa Mine is approximately 650 kms southeast of Dakar, the capital of Senegal. The Mana Mine is located in the northern part of Hounde Greenstone Belt, approximately 60 km north of Hounde mine.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	5,811	3,848	2,801	2,803	3,338	–
Revenue growth	51.0%	37.4%	−0.1%	−16.0%	84.1%	26.2%
EPS (basic, normalized)	4.36	1.33	1.26	2.25	3.03	–
EPS growth	227.7%	5.4%	−44.0%	−25.6%	–	–
Gross margin	49.4%	32.5%	35.2%	36.2%	34.0%	37.5%
Net margin	16.0%	−11.0%	−1.1%	10.7%	9.2%	4.8%
ROE	23.7%	−9.9%	−0.7%	5.8%	8.2%	5.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,777
Current ratio	1.55x
Long-term debt (mil)	1,437
Net debt (mil)	173
Total equity (mil)	4,788
Net debt / equity	0.04x
Net debt / EBITDA	0.06x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	5,811	+51.0%	2.9x	3,124	+63.9%	5.5x	4.36	+227.7%	16.0x
2026	7,506	+29.2%	2.3x	4,524	+44.8%	3.8x	8.10	+85.9%	8.6x
2027	8,429	+12.3%	2.0x	5,457	+20.6%	3.1x	10.41	+28.5%	6.7x
2028	8,377	−0.6%	2.0x	5,437	−0.4%	3.1x	10.02	−3.8%	7.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	7,506	+0.5%	+0.2%	−8.2%	8.10	−2.5%	−2.9%	−21.5%
2027	8,429	+2.5%	+2.5%	−3.8%	10.41	+1.8%	+1.6%	−9.5%
2028	8,377	+0.5%	−0.8%	−1.2%	10.02	+0.9%	−1.0%	−4.0%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	473	557	706	940	1,042	1,008	910	1,274	1,349	1,220
Sales mean (mil)	483	551	738	971	930	909	896	1,180	1,360	1,249
Surprise	−2.1%	+1.1%	−4.3%	−3.1%	+12.0%	+10.9%	+1.5%	+8.0%	−0.8%	−2.3%
EPS reported	0.17	0.01	0.30	0.45	0.90	0.74	0.66	0.93	1.53	1.25
EPS mean	0.15	0.13	0.32	0.75	0.67	0.56	0.56	0.86	1.52	1.33
Surprise	+13.2%	−92.2%	−5.3%	−39.9%	+34.9%	+33.3%	+17.3%	+7.6%	+0.8%	−5.9%

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
EDV Endeavour Mining plc	16.9B	0.06x	16.0%	3.58x	8.6x	6.7x	3.8x	3.1x
AEM Agnico Eagle Mines Limited	120.6B	−0.43x	37.5%	2.91x	14.6x	14.9x	7.6x	7.4x
ABX Barrick Mining Corporation	87.5B	1.05x	29.4%	2.29x	10.4x	8.7x	5.1x	4.3x
WPM Wheaton Precious Metals Corp.	75.8B	1.09x	63.6%	5.59x	25.8x	25.0x	18.4x	17.1x
FNV Franco-Nevada Corporation	62.0B	–	61.0%	5.37x	27.4x	25.2x	19.2x	18.0x
KGC Kinross Gold Corporation	33.8B	−0.41x	33.9%	2.43x	8.1x	7.3x	4.3x	3.8x
Mean		0.27x	40.2%	3.69x	15.8x	14.6x	9.7x	9.0x
Median		0.06x	35.7%	3.24x	12.5x	11.8x	6.3x	5.9x

Technical analysis

1M−13.8%
3M+6.8%
1Y+27.9%
3Y+177.3%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Endeavour Mining plc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	5,811	3,848	2,801	2,803	3,338	1,813
Cost of revenue	2,937	2,599	1,814	1,789	2,204	1,190
Gross profit	2,873	1,249	987	1,014	1,134	623
Selling, general & administrative expenses	179	138	115	130	108	54.1
Research & development	44.9	27.6	62.9	45.9	29.8	6.2
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	317	509	191	44.3	379	133
Other operating expenses	81.8	46.2	31.3	4.3	2.3	0
Operating income	2,251	529	586	790	615	430
Net interest income (expense)	−370	−332	−185	−85.9	−40.1	−157
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−37.2	−32.8	−65.7	−16.5	−9.1	7.0
Net income before taxes	1,844	164	336	687	566	279
Provision for taxes	623	501	279	339	181	108
Minority interest	−288	−85.3	−86.5	−48.0	−76.2	−50.2
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	932	−423	−29.9	300	309	121
Extraordinary items	0	−9.1	−247	−378	−36.4	−27.8
Net income	932	−432	−277	−77.6	272	93.1
EBIT, normalized	2,568	1,038	778	834	994	572
EBITDA, normalized	3,460	1,971	1,404	1,479	1,752	950
Basic EPS, normalized	4.36	1.33	1.26	2.25	3.03	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Endeavour Mining plc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	622	571	685	1,289	1,145	821
Receivables	249	217	357	145	132	70.1
Total inventory	591	488	298	435	393	243
Prepaid expenses	61.9	81.1	51.9	76.6	44.3	33.5
Other current assets	64.4	30.6	92.3	15.2	10.9	230
Total current assets	1,588	1,387	1,484	1,960	1,726	1,397
Property, plant & equipment	5,138	5,724	5,506	6,120	6,292	3,282
Goodwill	184	193	178	182	170	91.0
Intangibles	–	–	–	–	–	–
Long-term investments	123	115	163	118	120	32.1
Note receivable	70.7	52.2	–	–	–	–
Other long-term assets	591	456	429	311	247	123
Total assets	7,695	7,928	7,760	8,691	8,554	4,925
Liabilities
Accounts payable	397	475	372	351	313	246
Payable/accrued	–	–	–	–	–	–
Accrued expenses	69.6	68.3	42.3	59.3	64.6	34.4
Short-term debt	0	18.8	0	0	0	0
Current portion of long-term debt	92.5	99.8	30.2	481	18.2	17.4
Other current liabilities	872	520	368	526	321	368
Total current liabilities	1,431	1,182	812	1,417	716	665
Long-term debt	849	1,570	1,441	700	1,110	906
Minority interest	526	413	428	578	586	243
Other liabilities	724	873	807	1,036	1,187	491
Total liabilities	3,530	4,038	3,487	3,731	3,600	2,306
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	3.3	3.6	3.3	3.4	3.2	20.9
Additional paid-in capital	69.6	72.9	67.2	34.7	5.7	3,854
Retained earnings (accumulated deficit)	4,092	3,814	4,202	4,922	4,946	−1,255
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	4,165	3,891	4,272	4,960	4,954	2,620
Total liabilities & shareholders' equity	7,695	7,928	7,760	8,691	8,554	4,925

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Endeavour Mining plc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,843	164	336	687	566	280
Depreciation, depletion & amortization	870	876	594	645	758	332
Deferred taxes	–	−216	–	–	–	–
Non-cash items	401	961	546	359	423	309
Changes in working capital	−832	−429	−620	−313	−286	32.2
Cash from operations	2,283	1,356	856	1,378	1,461	953
Investing activities
Capital expenditures	−728	−986	−1,010	−577	−653	−300
Other investing cash flows	31.0	80.1	−77.1	−129	6.8	96.4
Cash from investing	−697	−906	−1,087	−706	−646	−204
Financing activities
Financing cash flow items	−290	−325	−321	−172	−226	−73.9
Cash dividends paid	−396	−288	−265	−226	−164	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−887	−18.8	220	−117	−142	−16.2
Cash from financing	−1,572	−631	−366	−515	−532	−90.0
Foreign exchange effects	81.0	−10.4	22.5	−95.8	−40.2	8.5
Net change in cash	94.8	−191	−575	60.8	242	668
Free cash flow	1,555	370	−154	801	808	653

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.