Endeavour Mining plc T.EDV

selling

[RONNIE111]

With low volume today, so far, and EDV doing quite alot better than GDX for the first time in a while, maybe the selling is over, or at least taking a break.

According to my calculations , which I don't guarantee are correct, but kind of think they are, Blackrock has sold about 7 million shares since Jan 1 2022 to Feb 28, 2022.  That equals 175,000 shares per trading day for those two months.  Their percent holding seems to be down from 10.7% at the start of the year , to 7.8% as of Feb 28.  No idea what they have done in March, but by the price action and number of shares traded in March so far, it would appear they kept selling, and perhaps at an even brisker pace. In a mostly lightly traded stock like EDV, 175,000 a day would have a big impact.  

The biggist risk to EDV share price has always seemed to be the price of gold, followed by the West Africa risk thing.  But maybe a big risk is the concentrated ownership.  La Mancha has always been very solid and no reason to think that will change.  Now with Blackrock reducing their %, and I am very curious what it will be next time EDV updates the holdings %s, that removes some risk.  GDX is now the largest holder, after La Mancha, and GDX is strictly  gold price driven.  I would feel better if retail held something like 25%, instead of a paltry 5%.  

[biker222]

ronnie....all good points. When you look at the business fundementals....this company has executed well, being in a penalty box of sorts due to the semafoe and terranga acquisions in short term. But that hangover should be over as the increase in POG will precipitate regimented buy backs and solid buy backs.....only a matter of time where pure cash flow and low lost of production will be rewarded.

[galnakon]

The selling is far from over. Another day, another pathetic underperformance. Gold at 1945, GDX up +1% and Endeavour unable to even be in the green. This stock is going nowhere when gold is going up, but be sure Endeavour is crashing when gold is -1%. Too much seeling pressure. The rats want to leave the sinking boat. This stock is such a falure.

[RONNIE111]

Did you buy back in then gal?   Your post of March 25 said: "I am done with this useless stock.  I sell everything".  If that was true, that you sold everything, that you were done with it, then why are you still here?  Maybe you never actually had any stock.  Maybe you aren't 'real'.