Dynacor Group (TSE:DNG) Stock Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Dynacor Group shares crossed above their 50-day moving average of C$4.71, indicating positive trading momentum.
• Canaccord Genuity upgraded Dynacor Group to a "strong-buy" rating, reflecting strong analyst confidence in the stock.
• The company declared a monthly dividend of $0.0133 per share, resulting in an annualized yield of 3.4% and a payout ratio of 26.49%.

Dynacor Group Inc. (TSE:DNG - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$4.71 and traded as high as C$4.71. Dynacor Group shares last traded at C$4.68, with a volume of 61,913 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised shares of Dynacor Group to a "strong-buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Dynacor Group currently has an average rating of "Strong Buy".

Dynacor Group Price Performance

The firm has a market capitalization of C$208.07 million, a PE ratio of 12.12 and a beta of 0.45. The business has a 50-day moving average of C$4.74 and a 200 day moving average of C$4.81. The company has a current ratio of 4.36, a quick ratio of 3.50 and a debt-to-equity ratio of 0.59.

Dynacor Group Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 18th will be given a $0.0133 dividend. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, September 11th. Dynacor Group's dividend payout ratio is presently 26.49%.

Dynacor Group Company Profile

Dynacor, with 27 years of experience, is a Canadian-based dividend-paying industrial gold ore processor. The corporation is engaged in gold production by processing ore purchased from the ASM (artisanal and small-scale mining) industry. Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners.