Dundee Precious Mtl (DPM) AI Stock Analysis

• Market Cap: C$10.10B
• Dividend Yield: 0.51%
• Average Volume (3M): 1.42M
• Price to Earnings (P/E): 18.7
• Beta (1Y): 1.00
• Revenue Growth: 37.75%
• EPS Growth: 59.97%
• Country: CA
• Employees: 2,063
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 1.01
• 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$43.71
• Price Target Upside: -2.77% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 85 Outperform
• Price Target: C$50.00 ▲(11.21% Upside)

The score is driven primarily by very strong financial quality (high margins, strong cash flow, and a debt-free balance sheet), supported by a clear positive price trend and constructive momentum. Valuation is fair rather than cheap and the dividend yield is modest, while earnings-call risks (regulatory setback at Loma Larga and higher costs) temper an otherwise strong operational 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

Strong TTM profitability (high gross/EBIT/net margins) and solid revenue growth, backed by excellent cash generation and a very conservative balance sheet (zero debt). Key risk is commodity-driven cyclicality and year-to-year variability in revenue, earnings, and free cash flow.

Income Statement

TTM (Trailing-Twelve-Months) results show strong profitability with high gross and operating margins (gross profit margin ~54%, EBIT margin ~44%) and a very strong net profit margin (~40%). Revenue is growing (TTM revenue growth ~15%) and earnings remain robust (TTM net income ~$301M). The main weakness is some historical revenue volatility (declines in 2022–2023 before rebounding), which is typical for commodity-linked businesses and can pressure results in weaker pricing/cost environments.

Balance Sheet

Balance sheet is exceptionally conservative: TTM total debt is zero and historical leverage was already minimal, keeping financial risk low. Equity has increased meaningfully (TTM stockholders’ equity ~$2.42B vs. ~$1.29B in 2024), and returns on equity remain strong (TTM ~19%). The primary watch item is that returns can fluctuate year-to-year (e.g., much lower profitability in 2022), reflecting cyclicality rather than balance sheet strain.

Cash Flow

Cash generation is strong in TTM (operating cash flow ~$527M; free cash flow ~$493M) with a sharp improvement versus the prior year (TTM free cash flow growth ~89%). Cash flow quality looks solid, with free cash flow closely matching net income (TTM ~0.94x). A potential weakness is variability across years (notably weaker free cash flow performance in 2024 versus 2023), suggesting sensitivity to working capital, capex timing, and commodity conditions.

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	16.05M	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: 44.96
• 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 44.96 is above the 20-day moving average (MA) of 43.06, above the 50-day MA of 38.09, and above the 200-day MA of 27.37, indicating a bullish trend. The MACD of 2.06 indicates Negative momentum. The RSI at 79.35 is Negative, neither overbought nor oversold. The STOCH value of 92.73 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
DPM	85 Outperform	C$10.10B	18.70	16.54%	0.51%	37.75%	59.97%
ELD	79 Outperform	$10.69B	21.96	9.54%	―	44.88%	38.67%
NGD	78 Outperform	C$11.03B	33.64	22.29%	―	48.70%	1718.41%
OGC	78 Outperform	C$9.65B	17.42	21.15%	0.42%	51.00%	532.40%
OR	75 Outperform	C$10.10B	49.08	11.26%	0.55%	37.22%	―
ARTG	62 Neutral	$8.68B	43.43	28.16%	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Dundee Precious Mtl Corporate Events

DPM Metals Files NI 43-101 Technical Report for Čoka Rakita Gold Project in Serbia

DPM Metals Inc. has filed a technical report for its Čoka Rakita gold project in Serbia, prepared in accordance with Canada’s National Instrument 43-101 standards. The report supports the project’s mineral resource and reserve estimates and the associated feasibility study, and is now accessible on Canadian regulatory platforms and the company’s website, providing investors and other stakeholders with detailed disclosure on the project’s parameters and underlying risks.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$49.00 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.

DPM Metals Extends 11-Year Gold Guidance Streak as Vareš Ramps Up

DPM Metals reported preliminary 2025 results showing consolidated gold production of approximately 245,000 ounces and copper production of 30 million pounds from its Chelopech and Ada Tepe mines, meeting its annual gold production guidance for the eleventh consecutive year. The company highlighted strong fourth-quarter output, with Ada Tepe delivering its best quarter of the year and Chelopech maintaining robust gold and copper production, while the Vareš mine remained in ramp-up with minimal output as DPM prioritized the implementation of its safety standards and workforce training; DPM plans to issue a three-year outlook and detailed 2026 guidance in February, noting that Vareš is expected to reach an 850,000 tonne-per-year run-rate by end-2026 and deliver better-than-expected gold and silver production versus its technical report, underscoring the company’s stable operational track record and growth pipeline.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$49.00 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.

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.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$43.00 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.

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.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$45.00 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.

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.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$46.00 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.

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.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$36.50 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.

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.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$36.50 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.

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.

The most recent analyst rating on (TSE:DPM) stock is a Buy with a C$36.00 price target. To see the full list of analyst forecasts on Dundee Precious Mtl stock, see the TSE:DPM Stock Forecast page.