Dundee Precious Metals (TSE:DPM) Hits New 12-Month High After Dividend Announcement

Key Points

• Dundee Precious Metals shares reached a new 12-month high at C$24.56 following the announcement of a dividend payment of $0.04, set for October 15th.
• The company has seen strong support from analysts, with several firms raising their target prices to as high as C$25.00.
• Dundee Precious Metals' market capitalization is approximately C$2.98 billion, reflecting its robust performance in the precious metals sector.

Shares of Dundee Precious Metals Inc. (TSE:DPM - Get Free Report) reached a new 52-week high during trading on Friday following a dividend announcement from the company. The company traded as high as C$24.56 and last traded at C$24.11, with a volume of 131507 shares. The stock had previously closed at C$22.40.The newly announced dividend which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.7%. Dundee Precious Metals's payout ratio is 13.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DPM shares. CIBC increased their target price on Dundee Precious Metals from C$23.00 to C$25.00 in a research note on Monday, June 16th. Canaccord Genuity Group increased their price objective on Dundee Precious Metals from C$23.00 to C$25.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Jefferies Financial Group raised their target price on Dundee Precious Metals from C$19.00 to C$23.00 in a research report on Friday, April 4th. Scotiabank raised their target price on Dundee Precious Metals from C$21.00 to C$23.00 in a research report on Monday, June 16th. Finally, Royal Bank Of Canada raised their target price on Dundee Precious Metals from C$21.00 to C$23.00 in a research report on Friday, April 4th.

Dundee Precious Metals Stock Up 7.6%

The firm has a market capitalization of C$2.98 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.04 and a beta of 1.20. The firm has a 50-day moving average price of C$21.80 and a 200 day moving average price of C$18.93.

Dundee Precious Metals Company Profile

Dundee Precious Metals Inc, a gold mining company, engages in the acquisition, exploration, development, mining, and processing of precious metals. The company primarily explores for gold, copper, and silver deposits. It holds a portfolio of projects located in Bulgaria, Namibia, Serbia, and Ecuador.

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