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

Dundee Precious Metals (TSE:DPM) had its target price raised by equities research analysts at CIBC from C$18.00 to C$21.00 in a report issued on Thursday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 6.98% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada boosted their price objective on Dundee Precious Metals from C$21.00 to C$23.00 in a research note on Friday, April 4th. TD Securities raised Dundee Precious Metals to a “strong-buy” rating in a research note on Tuesday, February 4th. Jefferies Financial Group increased their price target on Dundee Precious Metals from C$19.00 to C$23.00 in a report on Friday, April 4th. Finally, Scotiabank lifted their price objective on shares of Dundee Precious Metals from C$18.00 to C$18.50 in a research note on Wednesday, January 15th.

Dundee Precious Metals Stock Performance

Shares of TSE DPM opened at C$19.63 on Thursday. The firm has a 50 day moving average price of C$17.88 and a two-hundred day moving average price of C$15.12. The stock has a market cap of C$2.42 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.04 and a beta of 1.20. Dundee Precious Metals has a 52-week low of C$10.21 and a 52-week high of C$20.13.

Insider Activity

In related news, Director Marie-Anne Tawil sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of C$19.08, for a total transaction of C$190,800.00. Also, Director Xuefeng Chen sold 6,750 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of C$17.06, for a total transaction of C$115,155.00. Insiders have sold 42,583 shares of company stock valued at $780,496 in the last 90 days. Insiders own 0.16% of the company’s stock.

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.