Dundee Precious Mtl (DPM) AI Stock Analysis

• Market Cap: C$9.52B
• Dividend Yield: 0.51%
• Average Volume (3M): 1.42M
• Price to Earnings (P/E): 17.6
• Beta (1Y): 0.89
• Revenue Growth: 37.75%
• EPS Growth: 59.97%
• Country: CA
• Employees: 2,063
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 1.00
• Shares Outstanding: 221,888,930
• 10 Day Avg. Volume: 1,161,285
• 30 Day Avg. Volume: 1,417,072
• PEG Ratio: 0.17
• Price to Book (P/B): 1.27
• Price to Sales (P/S): 2.88
• P/FCF Ratio: 15.20
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$43.00
• Price Target Upside: -2.01% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: C$45.00 ▲(2.55% Upside)

Dundee Precious Mtl's overall stock score is driven by strong financial performance and positive earnings call outcomes. However, valuation concerns and potential overbought technical indicators slightly temper the outlook.

Positive Factors

Strong Financial Health

The company's low leverage and high margins indicate a strong financial position, providing stability and resilience in the competitive gold industry.

Successful Strategic Acquisitions

The acquisition of Vareš enhances DPM's long-term production profile, supporting growth and diversification in its operations.

Operational Efficiency

Consistent production and cost management at Chelopech demonstrate operational efficiency, contributing to sustained profitability.

Negative Factors

Regulatory Challenges

The revocation poses a significant risk to future project development and may impact long-term growth prospects if unresolved.

Increased Cost Pressures

Rising costs could pressure margins and profitability, challenging the company's ability to maintain its competitive position.

Decline in Free Cash Flow Growth

A decline in free cash flow growth could limit financial flexibility, affecting the company's ability to invest in future opportunities.

Dundee Precious Mtl Business Overview & Revenue Model

Company Description

DPM 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, Serbia, Ecuador, and Bosnia. The company was formerly known as Dundee Precious Metals Inc. and changed its name to DPM Metals Inc. in September 2025. The company is based in Toronto, Canada.

How the Company Makes Money

Dundee Precious Metals generates revenue primarily through the mining and sale of gold, silver, and copper. The company operates several mines, including the Chelopech mine in Bulgaria and the Tsumeb smelter in Namibia. Revenue streams are derived from the sale of these metals, which are sold to various customers in the precious metals market. Additionally, DPM benefits from by-product credits, particularly from copper and silver, which enhance overall profitability. The company also engages in strategic partnerships and joint ventures, which can provide additional resources and investment for exploration and operational efficiencies, contributing to its earnings. Market fluctuations in commodity prices and operational efficiency are significant factors affecting its revenue generation.

Dundee Precious Mtl Financial Statement Overview

Summary

Dundee Precious Mtl exhibits strong financial health with high profitability margins and a solid balance sheet. However, the decline in free cash flow growth and some margin reductions suggest potential challenges in maintaining cost efficiencies.

Income Statement

Dundee Precious Mtl shows strong profitability with a high gross profit margin of 59.98% and a net profit margin of 37.08% in the TTM period. The company has demonstrated consistent revenue growth, with a 5.76% increase in the latest period. EBIT and EBITDA margins are robust at 42.95% and 56.37%, respectively, indicating efficient operations. However, the slight decline in some margins compared to previous years suggests potential challenges in maintaining cost efficiencies.

Balance Sheet

The balance sheet reflects a solid financial position with a very low debt-to-equity ratio, indicating minimal leverage and financial risk. The return on equity is strong at 19.43%, showcasing effective use of shareholder funds. The equity ratio is healthy, suggesting a stable capital structure. However, the slight decrease in equity growth compared to previous years could indicate a need for strategic reinvestment.

Cash Flow

The cash flow statement reveals a slight decline in free cash flow growth, down by 8.83% in the TTM period, which could be a concern for future liquidity. Despite this, the operating cash flow to net income ratio is strong at 2.38, indicating good cash generation relative to earnings. The free cash flow to net income ratio is also solid at 86.26%, reflecting efficient cash management. The company should focus on reversing the negative trend in free cash flow growth to enhance financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	722.95M	566.38M	513.34M	422.82M	608.27M	635.27M
Gross Profit	357.25M	254.55M	218.10M	168.15M	226.34M	267.90M
EBITDA	430.03M	350.78M	298.37M	220.22M	325.61M	341.64M
Net Income	300.66M	224.55M	196.07M	34.85M	186.87M	205.94M
Balance Sheet
Total Assets	2.94B	1.42B	1.29B	1.16B	1.17B	974.86M
Cash, Cash Equivalents and Short-Term Investments	413.61M	634.83M	595.28M	433.18M	334.38M	149.53M
Total Debt	0.00	13.52M	12.53M	14.58M	15.19M	17.08M
Total Liabilities	513.34M	134.38M	169.69M	164.16M	164.00M	169.58M
Stockholders Equity	2.42B	1.29B	1.12B	993.09M	1.00B	798.67M
Cash Flow
Free Cash Flow	492.56M	107.41M	246.99M	184.47M	196.60M	168.68M
Operating Cash Flow	526.58M	136.06M	278.67M	222.02M	246.26M	203.84M
Investing Cash Flow	-476.34M	-22.76M	-12.57M	-83.26M	-31.53M	-46.08M
Financing Cash Flow	-308.42M	-77.39M	-99.50M	-42.90M	-33.56M	-24.66M

Dundee Precious Mtl Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 43.88
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DPM, the sentiment is Positive. The current price of 43.88 is above the 20-day moving average (MA) of 40.37, above the 50-day MA of 35.53, and above the 200-day MA of 25.95, indicating a bullish trend. The MACD of 2.24 indicates Negative momentum. The RSI at 74.45 is Negative, neither overbought nor oversold. The STOCH value of 84.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:DPM.

Dundee Precious Mtl Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ELD	79 Outperform	$9.87B	20.11	9.54%	―	44.88%	38.67%
NGD	78 Outperform	C$9.70B	29.02	22.29%	―	48.70%	1718.41%
OGC	78 Outperform	C$8.93B	16.12	21.15%	0.42%	51.00%	532.40%
DPM	75 Outperform	C$9.52B	17.63	16.54%	0.51%	37.75%	59.97%
OR	70 Outperform	$9.59B	46.62	11.26%	0.55%	37.22%	―
ARTG	62 Neutral	C$8.69B	42.45	28.16%	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Dundee Precious Mtl Corporate Events

DPM Metals Unveils Significant Gold-Copper Resource Estimates at Rakita Camp

DPM Metals Inc. has announced significant inferred mineral resource estimates at its Rakita Camp in Serbia, highlighting the potential for a district-scale gold-copper system. The estimates include 2.6 million ounces of gold and 1.9 billion pounds of copper, with the Dumitru Potok prospect showing a higher-grade core. The company emphasizes the potential for continued resource growth and high recoveries, supported by its extensive in-country experience and infrastructure designs. This development positions the Rakita Camp as a Tier One asset for DPM, offering substantial scale, grade, and longevity, with further exploration planned to expand the resource base.

DPM Metals Unveils Promising Feasibility Study for Čoka Rakita Project

DPM Metals Inc. has announced the results of a feasibility study for its Čoka Rakita project in Serbia, revealing strong economic potential with a net present value of $782 million and an internal rate of return of 36% at a gold price of $1,900 per ounce. The project is expected to be a high-margin, low-cost operation with significant returns for shareholders, and it marks a pivotal development in the company’s strategic expansion in the Rakita camp, where further exploration is underway to unlock additional resources.

DPM Metals Unveils High-Grade Mineral Discovery at Chelopech Mine

DPM Metals Inc. has announced a significant discovery of high-grade mineralization at the Wedge Zone Deep target within its Chelopech mine. The results from exploration drilling reveal substantial gold equivalent grades, indicating the potential to extend the mine’s life and enhance long-term value for stakeholders. This discovery underscores the exploration potential at Chelopech and strengthens DPM’s position in the mining industry.

DPM Metals Achieves Record Q3 2025 Results and Advances Strategic Projects

DPM Metals Inc. reported record financial results for the third quarter of 2025, with significant free cash flow and adjusted net earnings. The company successfully integrated the Vareš operation, anticipating higher production rates by 2026, and advanced its Čoka Rakita project towards feasibility study completion. With substantial liquidity and robust production, DPM is well-positioned to meet its 2025 guidance, while maintaining strong margins and cost efficiency.

DPM Metals Declares Fourth Quarter Dividend

DPM Metals Inc. announced a fourth quarter dividend of US$0.04 per common share, payable on January 15, 2026, to shareholders of record as of December 31, 2025. This decision reflects the company’s commitment to delivering returns to shareholders while maintaining its strategic focus on growth and sustainability in the gold mining industry.

DPM Metals Updates Vareš Mine Technical Report for Compliance

DPM Metals Inc. has amended and refiled the technical report for the Vareš Mine in Bosnia and Herzegovina following a review by the Ontario Securities Commission. The revisions include removing certain inferred mineral resources and changing the responsible author due to qualification requirements. This update ensures compliance with NI 43-101 standards and reflects the company’s commitment to accurate and responsible reporting, potentially impacting its operational transparency and stakeholder trust.

DPM Metals Reports Strong Q3 Production and Progress on Vareš Integration

DPM Metals Inc. announced its preliminary production results for the third quarter of 2025, highlighting increased gold and copper production from its Chelopech and Ada Tepe mines. The company is on track to meet its 2025 production guidance, with the integration of the Vareš operation progressing well. DPM aims to achieve full production capacity at Vareš by the end of 2026, which is expected to enhance its growth potential. The company will release its full third-quarter financial results on November 13, 2025, followed by a conference call to discuss the outcomes.

DPM Metals Faces Setback with Loma Larga Licence Revocation

DPM Metals Inc. announced that the Ministry of Environment and Energy in Ecuador has revoked the environmental licence for its Loma Larga project. The company expressed concern over the decision, emphasizing its commitment to environmental stewardship and compliance with Ecuadorian standards. DPM is evaluating options to preserve shareholder value and maintain project optionality, highlighting that independent studies have shown no adverse impact on water supply from the project.

DPM Metals Updates Feasibility Study and Faces Environmental License Challenge for Loma Larga Project

DPM Metals Inc. has released the results of an updated feasibility study for its Loma Larga project in Ecuador, highlighting robust project economics with strong margins and an attractive scale. The study indicates a potential after-tax NPV of $488 million and an internal rate of return of 18.1%, with a mine life of 11 years producing an average of 173,000 gold equivalent ounces annually. Despite receiving an environmental license, the project faces challenges as stakeholders in Cuenca have raised environmental concerns, prompting the government to consider suspending the license. DPM remains committed to addressing these concerns and complying with environmental standards while pausing its drilling program to engage with stakeholders and the government.

DPM Metals Inc. Rebrands to Reflect Strategic Focus on Precious Metals

DPM Metals Inc. has officially changed its name from Dundee Precious Metals Inc. as of September 12, 2025, following shareholder approval. This rebranding reflects the company’s strategic focus on becoming a mid-tier precious metals company, leveraging its established expertise in exploration, project development, and operational excellence. The company’s TSX trading symbol remains DPM, and it anticipates the commencement of its CHESS Depositary Interests on the ASX under the same symbol, subject to customary conditions.

Dundee Precious Metals Reports Significant High-Grade Intercepts at Dumitru Potok

Dundee Precious Metals announced significant high-grade copper-gold-silver intercepts from its Dumitru Potok prospect in Serbia, highlighting a 131.6-metre intercept grading 3.93% CuEq. The results underscore the potential of the Rakita camp as a large copper-gold system, prompting the company to increase its exploration budget and target resource estimates by year-end 2025. The ongoing exploration has expanded mineralization along the intrusion’s flanks, with indications of continuity towards other prospects, enhancing the project’s growth potential.