Can Endeavour Mining Corp’s Tomorrow be Different? The Stock Just Gapped Up

 Can Endeavour Mining Corp's Tomorrow be Different? The Stock Just Gapped Up

The stock of Endeavour Mining Corp (TSE:EDV) gapped up by $0.05 today and has $35.19 target or 44.00% above today’s $24.44 share price. The 5 months technical chart setup indicates low risk for the $2.45B company. The gap was reported on Oct, 19 by Barchart.com. If the $35.19 price target is reached, the company will be worth $1.08 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 166,950 shares traded hands. Endeavour Mining Corp (TSE:EDV) has risen 129.77% since March 14, 2016 and is uptrending. It has outperformed by 124.22% the S&P500.

Endeavour Mining Corp (TSE:EDV) Ratings Coverage

Out of 3 analysts covering Endeavour Mining Corp (TSE:EDV), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Endeavour Mining Corp has been the topic of 5 analyst reports since September 22, 2015 according to StockzIntelligence Inc. Peel Hunt maintained the shares of EDV in a report on Thursday, September 1 with “Buy” rating. Raymond James upgraded Endeavour Mining Corp (TSE:EDV) on Monday, May 30 to “Outperform” rating.

More news for Endeavour Mining Corp (TSE:EDV) were recently published by: Globenewswire.com, which released: “Endeavour Mining Corporation Closes C$144 million Bought Deal Financing” on July 11, 2016. Mining.com‘s article titled: “Endeavour Mining to buy True Gold and new African gold mine” and published on March 04, 2016 is yet another important article.

Endeavour Mining Corporation is an intermediate gold mining company. The company has a market cap of $2.45 billion. The Firm has an exploration portfolio in regions of Burkina Faso, Cote d’Ivoire, Mali and Ghana with a land package totaling approximately 5,080 square kilometers. It currently has negative earnings. The Company’s properties include Agbaou Gold Mine, Nzema Gold Mine, Tabakoto Gold Mine and Hounde Project.

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