Endeavour Mining (TSE:EDV) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts downgraded shares of Endeavour Mining (TSE:EDV - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other research firms have also recently weighed in on EDV. Ventum Financial set a C$9.00 price objective on shares of Endeavour Mining and gave the stock a "buy" rating in a research report on Wednesday, November 13th. TD Securities raised shares of Endeavour Mining to a "strong-buy" rating in a research note on Tuesday, February 4th. Ventum Cap Mkts raised Endeavour Mining to a "strong-buy" rating in a report on Wednesday, November 13th. BMO Capital Markets cut their price target on Endeavour Mining from C$8.50 to C$8.00 in a research note on Thursday, January 9th. Finally, CIBC lowered shares of Endeavour Mining from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from C$41.00 to C$37.00 in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Endeavour Mining has an average rating of "Buy" and a consensus price target of C$23.50.

Endeavour Mining Price Performance

Shares of TSE EDV traded up C$1.03 during midday trading on Thursday, hitting C$30.66. 569,898 shares of the company's stock were exchanged, compared to its average volume of 439,490. Endeavour Mining has a twelve month low of C$25.03 and a twelve month high of C$34.84. The firm has a market cap of C$5.24 billion, a P/E ratio of -15.35 and a beta of 0.92. The stock's 50 day moving average price is C$28.68 and its 200-day moving average price is C$29.24.

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Endeavour Mining Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.57 dividend. The ex-dividend date is Friday, March 14th. This represents a yield of 1.99%. This is a positive change from Endeavour Mining's previous dividend of $0.41. Endeavour Mining's dividend payout ratio is presently -56.07%.

Endeavour Mining Company Profile

Endeavour Mining PLC is a gold producer in West Africa, with operating assets across Senegal, Cote d'Ivoire and Burkina Faso. It holds a portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.