"Numbers Look Good " to CIBC Gold Miner Posts Q2/21 Financial, Operational Beat, 2021 Numbers Look Good
https://www.theaureport.com/article/2021/08/06/gold-miner-posts-q2-21-financial-operational-beat-2021-numbers-look-good.html
...Soni indicated that in terms of 2021 free cash flow, CIBC continues to forecast it to be strong, around $793M. Endeavour, in fact, had $833M in cash at the end of Q2/21. Net debt was $97M.
Expected free cash flow "should more than support Endeavour's capital return to shareholders via its minimum dividend policy and share buyback," Soni affirmed.
CIBC has an Outperformer rating and a CA$41 per share target price on Endeavor Mining, one of its top picks. The miner's current share price is about CA$31.39.
"We continue to recommend Endeavour as a cornerstone name in an investor's portfolio as we expect it to continue to rerate as it earns back investor confidence after two acquisitions last year and the outflows from the Toronto Stock Exchange index exclusion," Soni explained.