Dundee Precious Metals (TSE:DPM) Reaches New 12-Month High - What's Next?

Key Points

• Dundee Precious Metals reached a new 52-week high, trading as high as C$24.60, with a last trading price of C$24.53 and a volume of over 384,000 shares.
• Multiple analysts, including TD Securities and CIBC, have recently raised their price targets for the stock to C$25.00, indicating a strong buy sentiment.
• The company announced a quarterly dividend of $0.04 per share, scheduled for payment on October 15th, representing an annual yield of 0.6%.

Dundee Precious Metals Inc. (TSE:DPM - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$24.60 and last traded at C$24.53, with a volume of 384806 shares traded. The stock had previously closed at C$24.22.

Analyst Upgrades and Downgrades

DPM has been the subject of a number of research analyst reports. TD Securities lifted their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Canaccord Genuity Group lifted their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Scotiabank lifted their price objective on shares of Dundee Precious Metals from C$21.00 to C$23.00 in a report on Monday, June 16th. Finally, CIBC lifted their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 in a report on Monday, June 16th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$23.28.

Dundee Precious Metals Stock Performance

The company has a market cap of C$2.99 billion, a PE ratio of 15.23, a PEG ratio of 0.04 and a beta of 1.20. The business's 50-day moving average is C$22.51 and its 200 day moving average is C$19.85.

Dundee Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.7%. Dundee Precious Metals's payout ratio is currently 13.86%.

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.