Dundee Precious Metals (TSE:DPM) Sets New 12-Month High on Analyst Upgrade

Shares of Dundee Precious Metals Inc (TSE:DPM) hit a new 52-week high during trading 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. The stock had previously closed at C$9.04.

Several other research analysts have also recently commented on DPM. CIBC raised their target price on Dundee Precious Metals from C$8.75 to C$10.50 in a research report on Wednesday, July 22nd. Scotiabank raised their target price on Dundee Precious Metals from C$10.00 to C$10.50 in a research report on Friday. National Bank Financial raised their target price on Dundee Precious Metals from C$10.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Finally, M Partners reaffirmed a “buy” rating on shares of Dundee Precious Metals in a research report on Wednesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of C$11.38.

The company has a debt-to-equity ratio of 3.39, a current ratio of 1.27 and a quick ratio of 0.93. The firm has a 50 day simple moving average of C$8.76 and a 200-day simple moving average of C$6.63. The stock has a market capitalization of $1.83 billion and a price-to-earnings ratio of -68.71.

Dundee Precious Metals (TSE:DPM) last released its quarterly earnings data on Wednesday, May 6th. The mining company reported C$0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.21 by C$0.14. The company had revenue of C$203.65 million for the quarter. On average, sell-side analysts forecast that Dundee Precious Metals Inc will post 0.7292074 earnings per share for the current fiscal year.

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

About Dundee Precious Metals (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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