RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%
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Endeavour Mining Shines in Q3: Revenue, net profit surge on higher production
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Highlights
Gold producer in West Africa, Endeavour Mining (TSX: EDV) has its operating assets across Cote d'Ivoire, Senegal, and Burkina Faso. The company has a suite of advanced development projects and exploration assets in its portfolio in the highly prospective Birimian Greenstone Belt in West Africa.
In the third quarter of the year 2023, the firm witnessed a surge in its revenue as well as net income. While the revenue grew by 13.6%, its net earnings rose to USD 73.2 million in the quarter, as compared to USD 67.0 million in Q3 2022. EDV’s consolidated revenue increased from USD 466.7 million in Q3 2022 to USD 530.0 million in Q3 2023. This growth can be attributed to the substantial rise in the company’s production and sales volume on a sequential basis. Furthermore, EDV achieved industry beating margins, leading to improved liquidity ratios.
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