Dundee Precious Metals (TSE:DPM) Reaches New 12-Month High - Still a Buy?

Key Points

• Dundee Precious Metals reached a new 52-week high, trading at C$26.65 before closing at C$25.56 with a volume of 81,812 shares.
• Several brokerages raised their price targets for the stock, with CIBC, TD Securities, and Canaccord Genuity all issuing "buy" ratings and targets between C$25.00 and C$25.00.
• The company declared a quarterly dividend of $0.04, scheduled to be paid on October 15th, representing an annualized yield of 0.6%.

Dundee Precious Metals Inc. (TSE:DPM - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$26.65 and last traded at C$25.56, with a volume of 81812 shares traded. The stock had previously closed at C$25.46.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. CIBC lifted their price target on shares of Dundee Precious Metals from C$23.00 to C$25.00 in a report on Monday, June 16th. TD Securities upped their price objective on shares of 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. Canaccord Genuity Group upped their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Stifel Canada raised shares of Dundee Precious Metals to a "strong-buy" rating in a report on Thursday. Finally, Scotiabank upped their price objective on shares of Dundee Precious Metals from C$26.50 to C$28.50 and gave the company an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of C$23.97.

Dundee Precious Metals Trading Up 3.5%

The company's fifty day simple moving average is C$23.73 and its 200 day simple moving average is C$20.76. The stock has a market capitalization of C$6.12 billion, a P/E ratio of 19.86, a P/E/G ratio of 0.04 and a beta of 0.79.

Dundee Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.6%. Dundee Precious Metals's dividend payout ratio is presently 11.51%.

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.