Image source: Megapixl
Highlights
- In Q1 2024, DPM’s revenue decreased by 2.1% to USD 123.7 million due to lower production volume
- DPM announced a dividend of USD 0.04 per common share on May 7, 2024
- For FY24, DPM expects to produce 245k to 285k ounces of gold at an all-in sustaining cost of USD 790 to USD 930 per ounce
Dundee Precious Metals Inc (TSX: DPM) is a global mining company specializing in precious metals with operations in Bulgaria and Namibia. It has a market capitalization of CAD 2.02 billion.
In Q1 2024, the company's revenue decreased by 2.1% to USD 123.7 million from USD 126.3 million in pcp, primarily attributed to reduced production volume, partially offset by a higher average realized gold price. Total expenses were lower overall in Q1 2024, aided by additional income, although exploration and evaluation costs were notably elevated.
Earnings before income taxes slightly increased to USD 46.2 million compared to USD 45.9 million in the pcp, largely due to reduced total expenses. The company reported a net income of USD 45.7 million for the quarter, down from USD 46.6 million in the pcp, in the absence of earnings from discontinued operations.
Additionally in the same quarter, the company had a higher EBITDA margin of 45.9% and a higher net margin of 31.8%, compared to the industry median of 24.9% and 5.7%, respectively.

Image source: © 2024 Krish Capital Pty. Ltd., Source: Company Filing & EODHD/Others; Analysis: Kalkine Group
Recent business update
The company announced a dividend of USD 0.04 per common share on May 7, 2024. The dividend will be paid on July 15, 2024, to shareholders of record as of June 30, 2024.
Company outlook
For FY24, the company anticipates producing between 245,000 and 285,000 ounces of gold contained in concentrate. The expected all-in-sustaining cost per ounce of gold sold is expected to range from USD 790 to USD 930.
Top 10 shareholders
The aggregate shareholdings of the top 10 shareholders of DPM amount to roughly 43.11%. Notably, Van Eck Associates Corporation holds the largest stake at approximately 10.43%. This is followed by BlackRock Investment Management (UK) Ltd. which possesses around 9.30%.

Stock performance
Over the past week, the stock has shown gains of approximately 4.20%, and over the last month, it has increased by about 0.90%. Additionally, the current trading price of the stock exceeds the average 52-week high of CAD 11.70 and the 52-week low of CAD 7.79.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is July 4, 2024. The reference data in this report has been partly sourced from EODHD/Others.






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