Jefferies initiated coverage on Endeavour Mining PLC with a Buy rating.
The investment bank set a price target of 5,700p. This valuation implies a 62% upside from the previous closing price.
Analysts anticipate a re-rating as the Assafou project progresses. The Sabodala mine is also approaching a significant grade inflection.
Jefferies forecasts approximately $5 billion in free cash flow over three years. This liquidity supports capital returns exceeding the $1 billion dividend commitment for 2026-2028.
The firm models 80% EBITDA growth for the company by 2030. Endeavour remains a preferred pick in the EMEA precious metal mining sector.