Dundee Precious Metals (TSE:DPM) Given New C$32.00 Price Target 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 - Free Report) had its target price lifted by Royal Bank Of Canada from C$24.00 to C$32.00 in a report issued on Wednesday morning, MarketBeat.com reports. They currently have a moderate buy rating on the mining company's stock.

Several other equities analysts have also weighed in on DPM. CIBC increased their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 in a research report on Monday, June 16th. Canaccord Genuity Group boosted their target price on shares of 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. Scotiabank boosted their target price on shares of Dundee Precious Metals from C$26.50 to C$28.50 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Stifel Canada raised shares of Dundee Precious Metals to a "strong-buy" rating in a research report on Thursday, September 4th. Finally, TD Securities boosted their target price on shares of Dundee Precious Metals from C$23.00 to C$25.00 and gave the company a "buy" rating in a research report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, Dundee Precious Metals currently has an average rating of "Buy" and a consensus price target of C$27.28.

Dundee Precious Metals Trading Down 1.0%

Shares of DPM traded down C$0.30 during midday trading on Wednesday, reaching C$29.56. The stock had a trading volume of 759,526 shares, compared to its average volume of 677,111. The firm has a 50 day simple moving average of C$24.46 and a 200-day simple moving average of C$21.21. Dundee Precious Metals has a one year low of C$12.30 and a one year high of C$30.52. The firm has a market cap of C$6.56 billion, a PE ratio of 21.27, a P/E/G ratio of 0.04 and a beta of 0.79.

Dundee Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. Dundee Precious Metals's dividend payout ratio is currently 11.51%.

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.