NEWS
Globe/wire say Endeavour forecasting higher production
2017-01-24 08:19 ET - In the News
The Globe and Mail reports in its Tuesday, Jan. 24, edition that Canadian gold miner Endeavour Mining ($24.53), which is in merger talks with Acacia Mining PLC, said on Monday it expected its production to rise by as much as 10 per cent in 2017. A Reuters dispatch to The Globe reports that the company said its gold production is expected to range between 600,000 and 640,000 ounces in 2017. Endeavour's production was 584,000 ounces in 2016. The miner said it expected all-in-sustaining costs (AISC) of $860 to $905 an ounce in 2017. For 2016, the company's costs were $895 an ounce. Endeavour's fourth quarter production rose about 28 per cent to 175,000 ounces from a year earlier. Canaccord Genuity analyst Rahul Paul hiked Endeavour to "buy" from "hold" in The Globe on July 31, 2016. The shares were then worth $22.55. Raymond James analyst Chris Thompson rated Endeavour "outperform" in The Globe on Nov. 25, 2016. In the item, he raised his target to $30.75 from $27.75. The shares could then be had for $19.96. RBC Dominion Securities analyst Dan Rollins rated Endeavour "outperform" in The Globe on Dec. 21, 2016. He set a price target of $28. The shares were then worth $18.05.
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