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West Africa-focused gold mining company with operations in Cote d'Ivoire, Senegal and Burkina Faso, dual-listed in London and Toronto.
West Africa-focused gold mining company with operations in Cote d'Ivoire, Senegal and Burkina Faso, dual-listed in London and Toronto.
Sells the gold from its West African mines at spot prices, with host governments taking a share of output through royalties and state stakes, so results follow the gold price, mine grades and royalty terms. It grew largely by buying mines, including the 2021 purchase of Teranga Gold, which brought Sabodala-Massawa in Senegal.
In one line: A West-Africa-focused gold major.
Moat: narrow (scale, installed base). One of the largest gold producers in West Africa with multiple long-life mines and regional operating expertise.
Headquarters: London, UK / Toronto, Canada · Founded: 2004
Size Endeavour Mining (EDV.TO) is a Canada Materials company (Precious Metals) with a market value of $13.7B, the 60th largest of 420 Canada companies the cockpit tracks. Shares closed at C$79.38 on 6 Nov 2026.
Performance Over six months the shares fell 9.6%, against -7.9% for the median peer and +5.2% for the Canada market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 27.1% over the last twelve months (peer median +45.0%); the operating margin is 47.0% (peer median 44.3%).
Valuation It trades at 9.3× forward earnings against a peer median of 11.8× (4th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is -32 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 33.0 points above its cost of capital (9.2% WACC).
Credit Endeavour Mining has 1 bond outstanding ($500M), rated BB- by the agencies and trading like BB- at a weighted spread of 263 bp.
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$6.57B | C$5.92B | C$3.67B | C$2.85B | C$2.69B |
| Revenue growth | — | +61% | +28% | +6% | — |
| Gross profit | C$3.35B | C$2.88B | C$1.16B | C$942M | C$930M |
| EBITDA | C$3.93B | C$3.49B | C$1.64B | C$1.40B | C$1.42B |
| Net income | C$1.16B | C$949M | -C$411M | -C$42.8M | -C$134M |
| Free cash flow | C$1.99B | C$1.58B | C$353M | -C$157M | C$769M |
| Capital expenditure | C$741M | C$741M | C$939M | C$1.03B | C$555M |
| Total debt | C$1.53B | C$940M | C$1.69B | C$1.46B | C$1.18B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Endeavour Mining EDV.TO | $13.7B | -10% | +27% | 47% | 9.3× | -6.5% |
| Perseus Mining PRU.AX | $5.77B | +11% | +13% | 48% | 11.8× | -1.1% |
| B2Gold BTO.TO | $7.19B | +13% | +72% | 46% | 6.1× | -7.0% |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EDV.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.9% | -1.3% | 6th highest of 21 |
| 6-month return | -9.6% | -7.9% | 11th highest of 21 |
| Distance from 52-week high | -19.6% | -35.7% | 2nd highest of 21 |
| Revenue growth (TTM) | +27.1% | +45.0% | 6th lowest of 21 |
| Operating margin | 47.0% | 44.3% | 9th highest of 21 |
| Forward P/E | 9.3× | 11.8× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -6.5% | 5.2% | 2nd least demanding of 18 |
| Growth delivered (Del g) | +25.4% | +17.9% | 3rd highest of 18 |
| Hurdle (Req g minus delivered) | -31.9 pp | -16.3 pp | least demanding of 18 |
| ROIC minus cost of capital | +33.0 pp | +10.9 pp | 2nd highest of 19 |
| EV / EBITDA | 4.9× | 8.8× | 3rd cheapest of 17 |
| Net debt / EBITDA | -0.1× | -0.2× | 8th most indebted of 17 |
| Bond spread | 263 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Endeavour Mining EDV.TO | Canada | $13.7B | -10% | +27% | 47% | 9.3× | -6.5% | +25.4% |
| Equinox Gold EQX.TO | Canada | $13.5B | -17% | +63% | 36% | 9.7× | 21.0% | +17.5% |
| Alamos Gold AGI.TO | Canada | $13.4B | -22% | +41% | 57% | 11.3× | 7.8% | +20.3% |
| Zhongjin Gold 600489.SS | China | $15.1B | -20% | +25% | 13% | 11.4× | -5.9% | +10.5% |
| Coeur Mining CDE | United States | $15.9B | -17% | +117% | 35% | 12.1× | 10.9% | +21.6% |
| Chifeng Jilong Gold Mining 600988.SS | China | $11.6B | -2% | +23% | 43% | 17.4× | -5.7% | +22.6% |
| Shandong Gold Mining 1787.HK | Hong Kong | $16.4B | -42% | +12% | 13% | 11.1× | n/a | n/a |
| Lundin Gold LUG.TO | Canada | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% | +39.0% |
| Pan American Silver PAAS.TO | Canada | $17.2B | -26% | +37% | 39% | 9.5× | 4.4% | +23.0% |
| IAMGOLD IMG.TO | Canada | $10.8B | +6% | +83% | 48% | 9.1× | 1.4% | +19.1% |
| Evolution Mining EVN.AX | Australia | $18.3B | -4% | +28% | 42% | 13.4× | 10.8% | +24.4% |
| Shanjin International Gold 000975.SZ | China | $10.2B | -6% | -4% | 36% | 15.2× | -5.7% | +16.7% |
| G Mining Ventures GMIN.TO | Canada | $9.98B | -10% | +72% | 66% | 19.4× | n/a | n/a |
| Hecla Mining HL | United States | $9.90B | -21% | +30% | 48% | 18.1× | 8.0% | +15.0% |
| Harmony Gold Mining Co. Ltd. Sponsored ADR HMY | United States | $9.84B | -3% | +50% | 45% | 5.3× | -14.1% | +17.7% |
| Eldorado Gold ELD.TO | Canada | $9.37B | +11% | +25% | 45% | 7.7× | n/a | n/a |
| China Gold International Resources CGG.TO | Canada | $9.08B | +10% | +53% | 56% | 9.7× | 5.2% | +10.4% |
| DPM Metals DPM.TO | Canada | $8.61B | +18% | +96% | 55% | 10.1× | 5.1% | +8.6% |
| Royal Gold RGLD | United States | $22.5B | +11% | +94% | 63% | 20.9× | 10.9% | +15.6% |
| Zhaojin Mining Industry 1818.HK | Hong Kong | $7.87B | -42% | +49% | 34% | 17.0× | -2.5% | +17.9% |
| First Majestic Silver AG.TO | Canada | $7.52B | -27% | +96% | 44% | 18.1× | 9.2% | +29.2% |
Endeavour Mining has 1 bond outstanding with $500M face value. The agencies rate it BB-; its bonds trade like BB-. Weighted yield 7.23%, a spread of 263 bp over government bonds.