Scotiabank Forecasts Strong Price Appreciation for Dundee Precious Metals (TSE:DPM) Stock

Dundee Precious Metals (TSE:DPM) had its price objective hoisted by Scotiabank from C$18.00 to C$18.50 in a research report released on Wednesday morning,BayStreet.CA reports. Scotiabank also issued estimates for Dundee Precious Metals’ FY2024 earnings at $1.27 EPS and FY2026 earnings at $1.12 EPS.

A number of other brokerages have also issued reports on DPM. Jefferies Financial Group increased their price objective on Dundee Precious Metals from C$16.00 to C$18.00 in a report on Friday, October 4th. Royal Bank of Canada raised their price target on Dundee Precious Metals from C$17.00 to C$18.00 in a report on Friday, December 6th. BMO Capital Markets lifted their price objective on shares of Dundee Precious Metals from C$15.50 to C$18.50 in a research note on Monday, October 21st. Finally, CIBC increased their target price on shares of Dundee Precious Metals from C$16.00 to C$17.00 in a research report on Thursday, December 19th.

Dundee Precious Metals Price Performance

TSE DPM opened at C$13.89 on Wednesday. The company has a 50-day moving average price of C$13.18 and a two-hundred day moving average price of C$13.05. Dundee Precious Metals has a 52 week low of C$7.79 and a 52 week high of C$14.81. The stock has a market cap of C$2.50 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.04 and a beta of 1.20. The company has a current ratio of 7.09, a quick ratio of 6.61 and a debt-to-equity ratio of 1.31.

Dundee Precious Metals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Tuesday, December 31st. Dundee Precious Metals’s dividend payout ratio is presently 14.47%.

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.