Dundee Precious Metals (TSE:DPM) Reaches 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) reached a new 52-week high during trading on Friday . The company traded as high as C$30.66 and last traded at C$30.61, with a volume of 665474 shares changing hands. The stock had previously closed at C$30.19.

Analysts Set New Price Targets

DPM has been the topic of a number of research analyst reports. CIBC boosted their price target on shares of Dundee Precious Metals from C$23.00 to C$25.00 in a research note on Monday, June 16th. TD Securities boosted their target price on 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. BMO Capital Markets set a C$36.00 price objective on Dundee Precious Metals and gave the company an "outperform" rating in a report on Friday, September 12th. Stifel Canada upgraded Dundee Precious Metals to a "strong-buy" rating in a report on Thursday, September 4th. Finally, Royal Bank Of Canada boosted their price target on shares of Dundee Precious Metals from C$24.00 to C$32.00 and gave the stock a "moderate buy" rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$27.28.

Dundee Precious Metals Price Performance

The company has a market cap of C$6.92 billion, a PE ratio of 22.45, a P/E/G ratio of 0.04 and a beta of 0.79. The business's 50 day moving average is C$25.39 and its 200-day moving average is C$21.74.

Dundee Precious Metals Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.5%. Dundee Precious Metals's 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.