Top 10/"impressive Financials"/Beat/$ 40 targethttps://www.theaureport.com/article/2022/11/23/co-among-top-10-gold-producers-reports-in-line-q3-22-results.html
With a current share price of CA$27.55, Mark pointed out, the gold producer is trading "mostly cheaply compared to its peers on a range of metrics, especially considering its nearer-term growth potential." Haywood's target price on Endeavor is CA$40 per share, and its rating is Buy.
"Endeavor's shares offer shareholder value in a higher gold price environment given the diverse asset base, organic growth catalysts, and raw natural resource potential across its exploration portfolio," Mark wrote.
He added that "Endeavor is now a Top 10 gold producer by production volume and the largest gold producer in West Africa, and we continue to view EDV as a favorable pick in the senior producer space."...
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Impressive Financials
Cash flow from operations stands out in Q3/22, at US$253 million (US$253M), well above Haywood's projection of US$237M. At the quarter's end, the company had US$833M in cash.
"The company's groundbreaking cash position has led to [a] successful dividend payment of about US$100M in Q3/22," Mark noted.
Endeavor's EBITDA in Q3/22 was US$329M, above Haywood's estimate of US$322M. However, adjusted earnings per share were slightly lower than Haywood's forecast, at US$0.45 versus US$0.46.