Dundee Precious Metals (TSE:DPM) Sets New 1-Year High on Analyst Upgrade

Dundee Precious Metals Inc (TSE:DPM)’s stock price reached a new 52-week high on Friday after Canaccord Genuity raised their price target on the stock from C$11.25 to C$11.50. The stock traded as high as C$10.05 and last traded at C$9.80, with a volume of 579690 shares trading hands. The stock had previously closed at C$9.04.

Other equities research analysts have also recently issued research reports about the company. Scotiabank boosted their target price on Dundee Precious Metals from C$10.00 to C$10.50 in a research note on Friday. CIBC boosted their target price on Dundee Precious Metals from C$8.75 to C$10.50 in a research note on Wednesday, July 22nd. National Bank Financial boosted their target price on Dundee Precious Metals from C$10.00 to C$13.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Finally, M Partners restated a “buy” rating on shares of Dundee Precious Metals in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$11.38.

The stock has a market cap of $1.83 billion and a price-to-earnings ratio of -68.71. The company has a 50-day simple moving average of C$8.76 and a two-hundred day simple moving average of C$6.63. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.93 and a current ratio of 1.27.

Dundee Precious Metals (TSE:DPM) last posted its quarterly earnings results on Wednesday, May 6th. The mining company reported C$0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.21 by C$0.14. The company had revenue of C$203.65 million for the quarter. As a group, sell-side analysts predict that Dundee Precious Metals Inc will post 0.7292074 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.028 per share. The ex-dividend date of this dividend was Monday, June 29th. This is a positive change from Dundee Precious Metals’s previous quarterly dividend of $0.03. This represents a $0.11 dividend on an annualized basis and a dividend yield of 1.11%. Dundee Precious Metals’s payout ratio is presently -13.61%.

Dundee Precious Metals Company Profile (TSE:DPM)

Dundee Precious Metals Inc, a gold mining company, engages in the acquisition, exploration, development, mining, and processing of precious metals. Its principal operating assets include the Chelopech, which owns and operates gold, copper, and silver mine located in east of Sofia, Bulgaria; Krumovgrad that operates a gold mine located in south eastern Bulgaria; and Tsumeb, which owns and operates custom smelter located in Tsumeb, Namibia.

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