Scotiabank downgrades Dundee shares

Scotiabank downgraded shares of Dundee Precious Metals Inc (TSE:DPM) from a sector outperform rating to a sector perform rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has C$1.50 price objective on the mining company’s stock, down from their prior price objective of C$2.50.

Dundee Precious Metals (TSE:DPM) opened at 0.93 on Wednesday. The firm has a market capitalization of $130.73 million and a price-to-earnings ratio of 9.12. Dundee Precious Metals has a 52 week low of $0.91 and a 52 week high of $3.76. The company has a 50 day moving average price of $1.25 and a 200-day moving average price of $1.89.

Separately, CIBC decreased their price objective on Dundee Precious Metals to C$3.50 in a report on Thursday, October 8th.

Dundee Precious Metals Inc. (TSE:DPM) is a Canada-based gold mining company. The Company is engaged in the acquisition, exploration, development, mining and processing of precious metals. DPM’s principal subsidiaries include Dundee Precious Metals Chelopech EAD, which owns and operates gold, copper and silver mine located east of Sofia, Bulgaria; Dundee Precious Metals Kapan CJSC, which owns and operates a gold, copper, zinc and silver mine located in the town of Kapan, south east of the capital city of Yerevan in southern Armenia; Dundee Precious Metals Krumovgrad EAD, which is focused on the development of a gold property located in south eastern Bulgaria; Dundee Precious Metals Tsumeb (Proprietary) Limited, which owns and operates a custom smelter located in Tsumeb, Namibia, and Avala Resources Ltd., which is focused on the exploration and development of the Timok project, the Tulare copper and gold project and other early-stage projects in Serbia.