Source: Sharecast
The gold miner - which owns and operates projects across West Africa - saw revenues jump year-on-year in the three months to September end to $1.1bn from $910m. It was a decline on the $1.2bn seen in the second quarter, due to lower volumes sold and a slide in the gold prices, but narrowly ahead of forecasts.
Gold production declined to 256,000 ounces from 283,000 oz in the second quarter and 264,000 oz a year previously, but was similarly ahead of analyst expectations.
Adjusted earnings before interest, tax, depreciation and amortisation rose to $639m from $466m, beating consensus for $606m.
Ian Cockerill, chief executive, said a "strong" operational performance over the first nine months of the year left the company on track to deliver full-year guidance.
He continued: "Strong operational performance and cash flow generation will continue to support our sector-leading shareholder returns and organic growth, generating value for all of our stakeholders."
But Endeavour also acknowledged that it was now likely to achieve the lower half of its full-year production guidance range, of 1,090,000 oz to 1,265,000 oz, after an expected decline in production at its Mana mine in the fourth quarter was set to be only partially offset by higher-than-forecast production at the Ivory Coast Lafigue mine.
As at 0930 GMT, the stock had shed 8% at 3,796p.
Gold prices soared in the first half of the year, as war broke out in the Middle East and energy prices rocketed. They have come off highs since then, however, and have fallen further in recent days on speculation the US Federal Reserve will tackle mounting inflation by putting up rates.
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