JP Morgan has launched its coverage on West African gold producer Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) with an 'Overweight' rating and a £50 per share price target, implying around 63% upside from current levels.
Endeavour’s low-cost production base and growth potential across Côte d’Ivoire, Senegal, and Burkina Faso make it one of the most attractive gold names in the EMEA region, JP analyst Patrick Jones said.
The broker expects Endeavour’s annual output to climb from roughly 1.2 million ounces to 1.5 million ounces by 2030, underpinned by ongoing project expansions. JP Morgan forecasts free cash flow yields of 19% and 16% for 2026 and 2027, respectively.
Endeavour is “well-positioned for re-rating” as gold prices remain firm, the American bank said.