11:50 AM EST, 01/30/2025 (MT Newswires) -- (Adds analyst comment and updates shares.)

Endeavour Mining ( EDVMF ) on Thursday reported fourth-quarter gold production of 363,000 ounces, up from 280,000 ounces in the year-prior quarter.

All-in sustaining cost for the quarter were US$1,140 per ounce, up from US$947, while the company's debt dropped by US$102 million to $731.6 million.

The company expects up to 15% production growth in 2025 with production guidance of 1.11-million to 1.26-million ounces at an all-in sustaining costs of US$1,150 to US$1,350 per ounce.

National Bank of Canada maintained its outperform rating and $44.00 price target on Endeavour shares after the update.

"The primary takeaway for us is the measurable drop in net debt, despite a sizable dividend and gold prepay repayment in Q4/24, implying elevated FCF, and in conjunction with higher production and lower capex y/y, hints at the robust outlook for FCF harvesting in 2025," the bank said. "With this, EDV's best-in-sector dividend yield appears supported."

Endeavour shares were last seen up $1.69 to $29.92 on the Toronto Stock Exchange.

Price: 29.94, Change: +1.71, Percent Change: +6.06