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Update: Dundee Precious Metals Reports Lower Q2 Gold, Copper Production; Outperform Rating Maintained by National Bank of Canada

BY MT Newswires | ECONOMIC | 07/08/25 10:51 AM EDT

10:51 AM EDT, 07/08/2025 (MT Newswires) -- Dundee Precious Metals (DPMLF) on Tuesday reported a drop in gold and copper production in the second quarter.

The company produced 61,100 ounces of gold in the three months ended June 30, falling from 67,644 ounces of gold produced a year ago. Copper production slipped to 6.4 million pounds from 7.9 million pounds. Gold sales fell to 52,900 ounces from 60,823 ounces while copper sales dipped to 5.2 million pounds from 6.5 million pounds. The company will release its operating and financial results for the second quarter after market close on July 31.

Dundee kept its Outperform rating and $28.50 price target at National Bank of Canada following the news. The bank said its thesis for Dundee considers the company's elevated free cash flow, discounted valuation, optionality at Coka Rakita and solid balance sheet The price target was based on 1.0x NAVPS, National Bank said. Dundee's gold production beat the bank's forecast of 55,900 ounces while copper production was below the bank's estimate of 7.4 million pounds.

Dundee traded 1.8% lower at $21.86 per share at last look on the TSX.

Price: 21.76, Change: -0.51, Percent Change: -2.29

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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