Dundee Precious Metals (TSE:DPM) Price Target Raised to C$32.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Dundee Precious Metals from C$24.00 to C$32.00, suggesting an 8.73% potential upside based on the stock's previous close.
• Several analysts have recently upgraded Dundee Precious Metals, with Stifel Canada rating it as a "strong-buy" and other firms increasing their price targets to between C$25.00 and C$28.50.
• As of now, Dundee Precious Metals has a market capitalization of C$6.53 billion, with shares trading at C$29.43, reflecting a significant increase from its 12-month low of C$12.30.

Dundee Precious Metals (TSE:DPM - Get Free Report) had its price objective hoisted by equities researchers at Royal Bank Of Canada from C$24.00 to C$32.00 in a report issued on Wednesday, Marketbeat reports. The brokerage presently has a "moderate buy" rating on the mining company's stock. Royal Bank Of Canada's target price suggests a potential upside of 8.29% from the stock's previous close.

Several other analysts have also recently commented on the company. TD Securities lifted their price target on Dundee Precious Metals from C$23.00 to C$25.00 and gave the company a "buy" rating in a report on Monday, June 16th. Scotiabank lifted their price objective on Dundee Precious Metals from C$26.50 to C$28.50 and gave the company an "outperform" rating in a research note on Thursday, September 4th. CIBC lifted their price objective on Dundee Precious Metals from C$23.00 to C$25.00 in a research note on Monday, June 16th. Canaccord Genuity Group lifted 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 note on Tuesday, June 17th. Finally, Stifel Canada raised Dundee Precious Metals to a "strong-buy" rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, Dundee Precious Metals has a consensus rating of "Buy" and an average price target of C$25.09.

Dundee Precious Metals Price Performance

DPM opened at C$29.55 on Wednesday. The stock has a market capitalization of C$6.56 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 0.04 and a beta of 0.79. The business has a 50-day moving average of C$24.13 and a two-hundred day moving average of C$20.97. Dundee Precious Metals has a 12 month low of C$12.30 and a 12 month high of C$29.67.

About Dundee Precious Metals

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.