DPM Metals (OTCMKTS:DPMLF) Shares Down 8.1% – Here’s What Happened

Shares of DPM Metals Inc. (OTCMKTS:DPMLF) dropped 8.1% during trading on Wednesday. The company traded as low as $36.49 and last traded at $36.49. Approximately 2,433 shares changed hands during trading, a decline of 97% from the average daily volume of 69,951 shares. The stock had previously closed at $39.70.

Wall Street Analysts Forecast Growth

DPMLF has been the topic of a number of research reports. Scotiabank reaffirmed an “outperform” rating on shares of DPM Metals in a research note on Wednesday, August 19th. Jefferies Financial Group reissued a “buy” rating on shares of DPM Metals in a report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of DPM Metals in a research report on Wednesday, September 9th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

DPM Metals Stock Down 3.7%

The stock’s 50-day moving average price is $43.46 and its 200 day moving average price is $37.51. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 12.16 and a beta of 0.70.

DPM Metals (OTCMKTS:DPMLF) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. DPM Metals had a net margin of 50.26% and a return on equity of 25.66%. The firm had revenue of $361.54 million for the quarter, compared to analyst estimates of $372.74 million. On average, sell-side analysts anticipate that DPM Metals Inc. will post 3.31 earnings per share for the current year.

About DPM Metals

Dundee Precious Metals Inc, traded over the counter under the symbol DPMLF, is a Canadian-based mining company focused on the acquisition, development and operation of precious-metals properties. Its primary products are gold and copper, with activities spanning mine production, mineral exploration and related processing operations.

The company operates the Chelopech underground copper-gold mine and the Ada Tepe open-pit gold mine in Bulgaria. Chelopech produces gold and copper concentrates, while Ada Tepe is a gold-focused operation.