Dundee Precious Metals (TSE:DPM) Sets New 52-Week High - Still a Buy?

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) shares reached a new 52-week high on Friday . The stock traded as high as C$24.60 and last traded at C$24.53, with a volume of 384806 shares. The stock had previously closed at C$24.22.

Analyst Upgrades and Downgrades

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

Dundee Precious Metals Price Performance

The firm's fifty day moving average is C$22.58 and its two-hundred day moving average is C$19.88. The firm has a market capitalization of C$3.00 billion, a PE ratio of 15.32, a PEG ratio of 0.04 and a beta of 1.20.

Dundee Precious Metals Announces Dividend

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