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

Key Points

• Dundee Precious Metals Inc. reached a new 52-week high of C$30.66, with a trading volume of 665,474 shares, reflecting strong investor interest.
• Multiple brokerages have upgraded their price targets for the company, with BMO Capital Markets setting a target of C$36.00 and a consensus rating of "Buy" among analysts.
• The company declared a quarterly dividend of $0.04, which represents an annual yield of 0.5%, scheduled to be paid on October 15th.

Dundee Precious Metals Inc. (TSE:DPM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$30.66 and last traded at C$30.61, with a volume of 665474 shares traded. The stock had previously closed at C$30.19.

Analyst Ratings Changes

Several brokerages have issued reports on DPM. Scotiabank raised their price objective on shares of Dundee Precious Metals from C$26.50 to C$28.50 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Royal Bank Of Canada lifted their target price on shares of Dundee Precious Metals from C$24.00 to C$32.00 and gave the company a "moderate buy" rating in a report on Wednesday, September 10th. Macquarie raised shares of Dundee Precious Metals to a "strong-buy" rating in a report on Wednesday. Canaccord Genuity Group lifted 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 report on Tuesday, June 17th. Finally, Stifel Canada raised shares of Dundee Precious Metals to a "strong-buy" rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, Dundee Precious Metals currently has a consensus rating of "Buy" and a consensus price target of C$27.28.

Dundee Precious Metals Price Performance

The business's 50-day moving average price is C$25.22 and its two-hundred day moving average price is C$21.62. The firm has a market cap of C$6.78 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.04 and a beta of 0.79.

Dundee Precious Metals Dividend Announcement

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 issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Dundee Precious Metals's payout ratio is 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.