By Rick Mills, Ahead of the Herd
An innovative merchant bank focused on the natural resource sector Endeavour Financial Corporation (EDV-TSX) has seen its stock price double in the last 12 months on the heels of some astute junior gold mining acquisitions.
Yet today Endeavour has a P/E ratio of just one. That’s not a typo. In Q3 2010 EDV’s basic earnings per share were $2.20 and it’s currently trading at $2.20.
On June 25th 2010, Endeavour announced the signing of a US$100 million revolving line of credit provided by UniCredit Bank.
"We're pleased to have access to this facility which provides Endeavour with financial flexibility to fund new acquisitions." Endeavour CEO Neil Woodyer
