Jefferies has reviewed valuations across five European, Middle East and Africa precious metals miners following strong sector share-price performance. The American bank identified the most upside in Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2), which it rates 'buy', trading at 4.4 times next twelve months' consolidated enterprise value to EBITDA at spot prices.
RBC Capital Markets has downgraded Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) to 'sector perform' from 'outperform ', arguing that the West African gold producer's strong run has left most near-term catalysts already reflected in the share price. The Canadian bank cut its target price on the FTSE 100 miner to 4,600p, from 5,100p, against a closing price of 3,888p.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) comes out on top as analysts at Jefferies ran the ruler over a number of London-listed gold producers. Jefferies opened its coverage of Endeavour with a 'Buy' rating and pitched a price target of 5.700p that sees some 62% upside to the miner's share price in London.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
Curtis Ellergodt Rothschild Investment LLC | 1,800 | $143,424 | $107,028 | -$36,396 | -25.38% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 14,629 | $952,087 | $882,860.15 | -$69,226.85 | -7.27% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 876 | $56,948.76 | $52,270.92 | -$4,677.84 | -8.21% |
| NA Nizar Araji National Bank Of Canada /FI/ | 164,104 | $10.78M | $9.9M | -$875,387.03 | -8.12% |
| AB Anthony Bruccoleri Equitable Holdings Inc. | 6,235 | $424,597.91 | $365,246.3 | -$59,351.61 | -13.98% |
| ARCA Exchange | US Country |
The advisor operates with a specific focus on indexing investment strategies, particularly emphasizing the tracking of the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index. This strategy aims to reflect the performance of a specific segment of the U.S. Treasury market, namely zero-coupon securities known as Treasury STRIPS. These financial instruments are distinguished by their lack of interest payments and their backing by the full faith and credit of the U.S. government, ensuring a high level of security. The advisor’s approach involves sampling the index to construct a portfolio that closely matches the characteristics and performance of the target index, with a commitment to invest at least 80% of its assets directly in the U.S. Treasury securities that compose the index. This methodological and focused investment approach positions the advisor to cater to investors seeking exposure to long-term U.S. Treasury securities through a strategy designed for tracking index performance closely.
This service encompasses the core strategy of tracking the performance of the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index. Through this approach, the advisor aims to provide investors with a reliable means to gain exposure to a specific segment of zero-coupon U.S. Treasury securities with maturities of 20 to 30 years. The choice of an indexing investment strategy underscores the advisor's focus on precision and alignment with the market dynamics of U.S. Treasury STRIPS.
Central to the advisor's offerings are investments in U.S. Treasury STRIPS, which are essentially zero-coupon securities derived from the separation of the interest and principal payments of U.S. Treasury bonds or notes. These investments are characterized by their safety, being backed by the full faith and credit of the U.S. government, and their predictable nature, making them an attractive option for fixed income investors. The advisor’s commitment to allocating at least 80% of its asset base to these securities within the targeted index caters to those looking for secure, long-term government-backed investment opportunities.