Proactive Investors - Endeavour Mining Corp (TSX:EDV) has received a double upgrade from analysts at Liberum, who rate the business’s new chief executive highly enough to predict the gold producer will continue its recent good run.
Liberum believers that a Trump re-election in the US will result in elevated global war and trade tensions, with associated inflation risk, and make the gold mining sector even more of a hot bed of M&A.
Endeavour Mining is likely to remain in the spotlight, having fallen sharply following the shock termination of Sébastien de Montessus as chief executive, but the broker sees the likelihood of a bid as low.
“Instead, we upgrade Endeavour to buy (from our contrarian sell), as we rate new CEO Ian Cockerill and believe he will be able to sustain the company’s long-running record of delivery.
“As London’s ‘go-to’ name in the space, Endeavour is particularly well-positioned to capitalise on the demand for gold equities.
“We do not expect any legal challenges mounted by the former CEO or associated investigations conducted by regulatory authorities to prove materially damaging.”
Liberum has a price target of 1,650p against