Dundee Precious Metals (TSE:DPM) Stock Passes Above 200-Day Moving Average - Here's Why

Key Points

• Dundee Precious Metals' stock price has surpassed its 200-day moving average, reaching a high of C$24.49 before last trading at C$23.62 with a substantial volume of over 1 million shares.
• Several brokerages have upgraded their target prices for Dundee Precious Metals, with Canaccord Genuity and TD Securities both raising theirs to C$25.00 and assigning a "buy" rating.
• The company recently declared a quarterly dividend of $0.04 per share, which will be paid to investors on October 15th, representing an annualized yield of 0.7%.

Dundee Precious Metals Inc. (TSE:DPM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$19.17 and traded as high as C$24.49. Dundee Precious Metals shares last traded at C$23.62, with a volume of 1,005,582 shares trading hands.

Analysts Set New Price Targets

DPM has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price target on 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. TD Securities upped 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 research report on Monday, June 16th. Stifel Nicolaus increased their target price on shares of Dundee Precious Metals from C$19.50 to C$23.75 in a research note on Monday, April 21st. Scotiabank lifted their price target on shares of Dundee Precious Metals from C$21.00 to C$23.00 in a research report on Monday, June 16th. Finally, CIBC upped their price objective on shares of Dundee Precious Metals from C$23.00 to C$25.00 in a report on Monday, June 16th.

Dundee Precious Metals Stock Performance

The stock has a market cap of C$2.97 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.04 and a beta of 1.20. The company has a 50 day moving average of C$22.12 and a 200-day moving average of C$19.34.

Dundee Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Dundee Precious Metals's dividend payout ratio (DPR) 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.