Dundee Precious Metals Stock (OTC: DPMLF)

Dundee Precious Metals Stock (OTC:DPMLF), Trade Ideas

Dundee Precious Metals Inc is an international mining company engaged in the acquisition, exploration, development, mining, and processing of precious metals. The company's projects include Chelopech and Ada Tepe in Bulgaria.

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Gold mining companies have returned to the forefront of the market as gold prices break decisively above $2,000 per troy ounce and are projected to approach their all-time highs.

Digging For Discounts: Gold Mining Stocks Offer 30% Bargain—Is It An Unmissable Buying Opportunity?

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Stocks That Hit 52-Week Highs On Wednesday

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DUNDEE PRECIOUS MTLS INC by Dundee Precious Metals Inc.

Dundee Precious Metals Inc

Gold prices hit a three-month high recently, driven by growing speculation of impending interest rate cuts by the Fed. As prices are poised to escalate further in the foreseeable future, it could be a prime time to watch quality gold stocks DRDGOLD (DRD), Alamos Gold (AGI), and Dundee Precious Metals (DPMLF) for steady income. Read on… Historically, gold has been lauded for its enduring stability and its inherent ability to retain value over the long term. Given its reputation as a safeguard against financial uncertainties, the recent <a href="https://www.investing.com/analysis/gold-at-2week-high-us-dollar-dips-euro-rises-on-disappointing-us-economic-data-200646534">gold price surge</a> – spurred by geopolitical turmoil, the softening dollar, anticipations of an interest rate cut, and weaker-than-predicted U.S. manufacturing data – sets the stage for the precious metal to remain resilient in the upcoming months.
So, investors could buy dividend-paying gold stocks Alamos Gold Inc. (<a href="https://stocknews.com/stock/AGI/">AGI</a>) and Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>) for steady returns, while DRDGOLD Limited (<a href="https://stocknews.com/stock/DRD/">DRD</a>) could be watched now.
In the last few months of 2023, gold prices surged after a powerful rally sparked by <a href="https://fee.org/articles/central-banks-are-purchasing-gold-at-record-highs-why/">central bank purchasing</a> and investors' rising tension over geopolitical conflicts. A fall in the U.S. dollar and expectations of rate cuts by the Federal Reserve bolstered bullion prices, which hit a record high of $2,135.39 per ounce in December 2023.
Recently, gold prices hit a three-month peak, fueled by growing anticipation of a June <a href="https://www.reuters.com/markets/commodities/gold-near-two-month-peak-anticipation-builds-june-us-rate-cut-2024-03-04/">interest rate cut</a> by the U.S. Fed. Additionally, spot gold witnessed a 1.4% increase, reaching $2,113.28 an ounce, hitting its highest since December 2023.
As per J.P. Morgan, gold prices will <a href="https://www.jpmorgan.com/insights/global-research/commodities/gold-prices">peak at $2,300/oz in 2025</a>, assuming a Fed cutting cycle initially providing 125 basis points of cuts over the second half of 2024, pushing gold prices to new nominal highs.
Economist David Rosenburg projects an <a href="https://medium.com/@globalbizoutlook/the-us-is-now-85-likely-to-experience-a-recession-and-financial-crisis-in-2024-economist-david-0d73245f1c3d#:">85% probability of a recession</a> in the U.S. within the next 12 months. Despite contrary beliefs from his peers, asserting that the U.S. can sidestep a recession, it is indisputable that economic expansion is sluggish. The ongoing wars have added an extra layer of volatility. Investors often regard secure assets, like gold, as a safe haven due to their inherent hedge attributes during uncertain times. This could prove beneficial for gold.
Consequently, the global gold market is <a href="https://factviewresearch.com/report/global-gold-market">expected to reach $4.50 trillion</a> by 2032, growing at a CAGR of 3.8%.
In light of these encouraging trends, let's look at the fundamentals of the three <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stocks, starting with the weakest from the investment point of view.
Stock #3: DRDGOLD Limited (<a href="https://stocknews.com/stock/DRD/">DRD</a>)
Headquartered in Johannesburg, South Africa, DRD engages in the surface gold tailings retreatment business in South Africa. It is also involved in the exploration, extraction, processing, and smelting activities. 
On February 14, DRD declared an interim dividend of 20 SA cents for the six months that ended December 31, 2023, matching the interim dividend of the six months that ended December 31, 2022. This marks DRD's 17th consecutive year of dividends.
It pays an annual dividend of $0.45 per share, which translates to a dividend yield of 6.07% on the current share price. Its four-year average yield is 4.90%. DRD's dividend payments have grown at a 61.3% CAGR over the past five years.
DRD's trailing-12-month CAPEX/Sales of 31.51% is 317.8% higher than the industry average of 7.54%. Its trailing-12-month EBIT and net income margins of 24.72% and 22.97% are 119.4% and 347.6% higher than the industry averages of 11.27% and 5.13%, respectively.
For the six months that ended December 31, 2023, DRD's <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> and gross profit from operating activities stood at ZAR2.97 billion ($156 million) and ZAR762.50 million ($39.99 million), up 12.1% and 14% from the prior-year period, respectively.
For the same quarter, its profit for the period and basic earnings per share increased 10.1% and 9.5% from the year-ago period to ZAR589.30 million ($30.91 million) and 68.10 SA cents, respectively.
Street expects DRD's revenue for the fiscal year ending June 2024 to increase 8.4% year-over-year to $317.25 million. Its EPS is expected to be $0.67 for the same year.
The stock has gained 5.2% intraday to close the last trading session at $7.75. Over the past month, it has lost 1.8%.
DRD's fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall C rating, equating to Neutral in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
The stock has a B grade for Value. Within the <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry, it is ranked #11 out of 40 stocks.
To see additional POWR Ratings for Growth, Momentum, Stability, Sentiment, and Quality for DRD, <a href="https://stocknews.com/stock/DRD/">click here</a>.
Stock #2: Alamos Gold Inc. (<a href="https://stocknews.com/stock/AGI/">AGI</a>)
Headquartered in Toronto, Canada, AGI acquires, explores, develops, and extracts precious metals in Canada and Mexico. The company primarily explores for gold and silver deposits. 
On February 28, AGI's Board of Directors declared a quarterly dividend of $0.03 per common share. The company has paid dividends for 15 consecutive years, during which time $334 million has been returned to shareholders through dividends and share buybacks, including $39 million in 2023.
The dividend is payable to shareholders on March 28. It pays an annual dividend of $0.10 per share, which translates to a dividend yield of 0.81% on the current share price. Its four-year average yield is 0.95%. AGI's dividend payments have grown at CAGRs of 15.4% and 58.5% over the past three and five years, respectively.
AGI's trailing-12-month CAPEX/Sales of 34.10% is 352.1% higher than the industry average of 7.54%. Its trailing-12-month EBIT and net income margins of 31.09% and 20.52% are 175.8% and 300% higher than the industry averages of 11.27% and 5.13%, respectively.
For the fiscal fourth quarter that ended December 31, 2023, AGI's operating revenues and earnings before income taxes stood at $254.60 million and $71.90 million, up 9.8% and 16.7% year-over-year, respectively.
For the same quarter, its net earnings and earnings per share increased 16% and 20% from the year-ago quarter to $47.10 million and $0.12, respectively.
Street expects AGI's revenue and EPS for the fiscal first quarter ending March 2024 to increase 8.2% and 16.6% year-over-year to $272 million and $0.13, respectively. The company surpassed consensus EPS estimates in each of the trailing four quarters and consensus revenue estimates in three of the trailing four quarters, which is impressive.
The stock has gained 23.1% over the past year to close the last trading session at $12.84. Over the past nine months, it has gained 4.6%.
AGI's strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, equating to Buy in our proprietary rating system.
AGI has a B grade for Sentiment and Quality. Within the same industry, it is ranked #10.
Beyond what we've stated above, we have also rated the stock for Growth, Value, Momentum, and Stability. Get all ratings of AGI <a href="https://stocknews.com/stock/AGI/">here</a>.
Stock #1: Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>)
Headquartered in Toronto, Canada, DPMLF acquires mineral properties and explores, develops, mines, and processes precious metals. It owns and operates a gold, copper, and silver mine.
On February 14, DPMLF's Board of Directors declared a first-quarter dividend of $0.04 per common share, payable to shareholders on April 15. It pays an annual dividend of $0.16 per share, which translates to a dividend yield of 2.28% on the current share price. Its four-year average yield is 1.89%. DPMLF's dividend payments have grown at a 21.1% CAGR over the past three years.
Additionally, during 2023, DPMLF returned $95.80 million, or 42% of free cash flow, to shareholders through dividends paid and shares repurchased. 
DPMLF's trailing-12-month cash per share of $3.28 is 131.9% higher than the industry average of $1.42. Its trailing-12-month net income and levered FCF margins of 37.10% and 27.04% are 623% and 466.8% higher than the industry averages of 5.13% and 4.77%, respectively.
In the fiscal fourth quarter that ended December 31, 2023, DPMLF's revenue and adjusted EBITDA increased 23.3% and 36.7% year-over-year to $139.30 million and $79.63 million, respectively.
For the same quarter, its adjusted net earnings and adjusted basic earnings per share stood at $55.47 million and $0.31, up 66.5% and 72.2% from the prior-year quarter, respectively.
Street expects DPMLF's revenue for the fiscal year ending December 2024 to increase 5.3% year-over-year to $547.43 million.
The stock has gained 12.5% over the past six months to close the last trading session at $7.15. Over the past month, it has gained 12.1%.
DPMLF's robust prospects are reflected in its POWR Ratings. The stock has an overall A rating, equating to a Strong Buy in our proprietary rating system.
DPMLF has an A grade for Quality and a B for Value. It is ranked first within the same industry.
<a href="https://stocknews.com/stock/DPMLF/">Click here</a> for the additional POWR Ratings for DPMLF (Growth, Momentum, Stability, and Sentiment).
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
AGI shares were unchanged in premarket trading Tuesday. Year-to-date, AGI has declined -4.68%, versus a 7.78% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/agi-dpmlf-drd-3-gold-stocks-top-watch-for-steady-income/>3 Gold Stocks Top Watch for Steady Income</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Gold Stocks Top Watch for Steady Income

Gold prices hit a new all-time high recently, with analysts foreseeing strength lasting at least into the second half of 2024, especially against the backdrop of expectations of rate cuts by the Fed. Hence, it could be ideal to buy promising gold stocks Centerra Gold (CGAU), Dundee Precious Metals (DPMLF), and Centamin (CELTF) for potential gains. Read on… Gold prices recently <a href="https://www.cnbc.com/2024/03/05/xau-gold-scales-all-time-highs-wall-street-analysts-say-it-has-further-to-go.html">rallied to a fresh record of above $2200</a>, and there is potential for further surges as various countries are actively engaging in purchasing gold. Moreover, solid demand for physical gold is driven by its appeal as a safe-haven asset, attracting investors seeking diversification amid underwhelming performances in other asset classes.
Given the backdrop, investors could consider investing in fundamentally sound gold stocks Centerra Gold Inc. (<a href="https://stocknews.com/stock/CGAU/">CGAU</a>), Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>), and Centamin plc (<a href="https://stocknews.com/stock/CELTF/">CELTF</a>) for high-profit potential.
Gold prices have been hitting record highs lately, with the <a href="https://www.cnbc.com/2024/03/05/xau-gold-scales-all-time-highs-wall-street-analysts-say-it-has-further-to-go.html">gold contract for April closing above $2,100 per ounce</a> for the first time and the rally shows no signs of abating. Recent moves in prices are primarily attributed to the potential interest rate cuts by the Federal Reserve, as gold prices tend to have an inverse relationship with interest rates.
Moreover, analysts expect strength to last at least into the second half of this year. According to Aakash Doshi, Citi's North America head of commodities research, prices of gold could surge to $2,300 per ounce in the second half of the year. Also, Macquarie's strategists project prices to reach new highs during the second half.
Meanwhile, <a href="https://www.cnbc.com/2024/02/05/gold-prices-to-hit-2200-and-outperformance-awaits-silver-says-ubs.html#:~:text=Metals-,Gold%20prices%20to%20hit%20%242%2C200%20and%20a%20'dramatic'%20outperformance%20awaits,silver%20in%202024%2C%20says%20UBS&amp;text=Gold%20and%20silver%20are%20expected,cutting%20interest%20rates%2C%20UBS%20forecasts.">as per UBS analysts</a>, gold is expected to reach a staggering $2,200 per ounce by the year-end.
According to the Mordor Intelligence report, the gold market size is expected to reach 4.42 kilotons in 2024. The market is further projected to exceed 6.32 kilotons by 2029, expanding at a <a href="https://www.mordorintelligence.com/industry-reports/gold-market">CAGR of 7.4%</a> during the forecast period (2024-2029).
The key factors driving the market's growth over the forecast period include increasing demand, technological updates, and long-term savings prospects. Further, the wedding market sector in China and India is projected to further flourish and add growth opportunities for the gold market segment in the future.
Talking about the U.S. market, the adaption of gold wedding band and customization from the Western European culture appears to be influencing the <a href="https://www.gold.org/about-gold/gold-demand/usa">gold jewellery demand</a> highly positioning the market for expansion.
Investors' interest in gold stocks is evident from the Aberdeen Standard Physical Gold Shares ETF (<a href="https://stocknews.com/stock/SGOL/">SGOL</a>) 13.2% gains over the past six months.
In light of these encouraging trends, let's look at the fundamentals of the three best <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stocks, beginning with number 3.
Stock #3: Centerra Gold Inc. (<a href="https://stocknews.com/stock/CGAU/">CGAU</a>)
Headquartered in Toronto, Canada, CGAU operates as a gold mining company that engages in acquiring, exploring, developing, and operating gold and copper properties globally. The company's flagship projects include the 100% owned Mount Milligan gold-copper mine in British Columbia, Canada, and the Öksüt Gold Mine in Turkey.
On February 22, 2024, CGAU announced a quarterly dividend of C$0.07 ($0.05) per common share which amounts to around $11.20 million. The quarterly dividend is payable on March 27, 2024, to shareholders of record as of the close of business on March 13, 2024.
CGAU's annual dividend of $0.21 translates to a yield of 3.57% at the current share price. Its four-year average dividend yield is 2.58%. Moreover, the company's dividend payouts have increased at a CAGR of 5.9% over the past three years.
On February 14, CGAU and its subsidiary, Thompson Creek Metals Company Inc., entered into an additional agreement with RGLD Gold AG, a subsidiary of Royal Gold, Inc. (<a href="https://stocknews.com/stock/RGLD/">RGLD</a>), regarding the Mount Milligan Mine, resulting in a life of mine extension to 2035 and also establishing favorable parameters for potential future mine life extensions.
The additional agreement with RGLD Gold AG will potentially unlock incremental mineral reserves and resources at Mount Milligan for mutual benefit.
For the fourth quarter that ended December 31, 2023, CGAU's revenue grew 63.2% from the year-ago value to $340 million. The company's reported earnings from mine operations of $138.10 million indicates growth of 318.5% from the prior year's quarter. And its free cash flow was $111 million for the quarter.
Furthermore, the company's adjusted net earnings came in at $61.20 million, or $0.28 per share, compared to an adjusted <a href="https://www.investopedia.com/terms/n/netloss.asp">net loss</a> of $13.70 million, or $0.06 per share, respectively.
According to the 2024 guidance, CGAU expects full-year consolidated gold production between 370,000 and 410,000 ounces, projecting an 11% increase from the midpoint of guidance over last year's production, and copper production is anticipated between 55 and 65 million pounds.
Analysts expect CGAU's revenue and EPS for the fiscal year ending December 2024 to grow 4% and 697.5% year-over-year to $1.14 billion and $0.40, respectively. Further, the company topped the consensus revenue estimates in three of the trailing four quarters.
Over the past month, the stock has surged 13.6% and 6.8% over the past six months to close the last trading session at $5.78.
CGAU's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
CGAU has an A grade for Growth and a B for Value and Quality. It is ranked #3 out of 43 stocks in the <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry.
To check other POWR Ratings of CGAU for Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/CGAU/">click here</a>.
Stock #2: Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>)
Based in Toronto, Canada, DPMLF is a gold mining company that engages in acquiring, developing, developing, mining, and processing precious metals. It mainly explores gold, copper, and silver deposits. The company holds a portfolio of projects in Bulgaria, Namibia, Serbia, and Ecuador.
On March 7, 2024, DPMLF entered a definitive share purchase agreement with a subsidiary of Sinomine Resource Group Co. Ltd. for selling its interest in the Tsumeb smelter located in Namibia via the disposition of all the issued and outstanding shares it indirectly holds in Dundee Precious Metals Tsumeb Holding (Pty) Ltd. for consideration of $49 million in cash.
After the sale, DPMLF will be able to emphasize restructuring and simplifying its portfolio and focus on gold mining assets.
On December 18, 2023, DPMLF and Osino Resources Corp. entered a definitive agreement where DPMLF acquired all the issued and outstanding common shares of Osino. The transaction added Osino's high-quality, long-life Twin Hills open-pit gold project and an extensive exploration portfolio in Namibia to DPMLF's existing portfolio of assets.
The acquisition strengthens DPMLF's core competence and unique capabilities, adding a near-term producing asset and positioning DPMLF as a leading intermediate gold producer with exceptional assets and growth profile.
For the fourth quarter that ended December 31, 2023, DPMLF's revenue increased 23.3% year-over-year to $139.30 million. The company's adjusted net earnings grew 66.7% and 72.2% from the year-ago values to $55.50 million and $0.31 per share, respectively. Its adjusted EBITDA came in at $79.60 million, up 36.5% from the prior year's quarter.
Also, the company's free cash flow increased 55.5% year-over-year to $51.80 million.
Analysts expect DPMLF's revenue for the fiscal year (ending December 2025) to increase 5.2% year-over-year to $525.45 million. Moreover, shares of DPMLF have gained 12.3% over the past month and 19.9% over the past six months to close the last trading session at $7.60.
DPMLF's POWR Ratings reflect its robust outlook. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
DPMLF has an A grade for Quality. It also has a B grade for Value. It is ranked #2 among 43 stocks within the same industry.
To see the other ratings of DPMLF for Sentiment, Growth, Momentum, and Stability, <a href="https://stocknews.com/stock/DPMLF/">click here</a>.
Stock #1: Centamin plc (<a href="https://stocknews.com/stock/CELTF/">CELTF</a>)
CELTF is a Saint Helier, Jersey-based company that engages in the exploration, mining, and development of precious metals in Egypt, Burkina Faso, Côte d'Ivoire, Jersey, the United Kingdom, and Australia. Its principal asset is the Sukari Gold Mine project, which covers an area of about 160 square km located in the Eastern Desert of Egypt.
On January 9, 2024, CELTF announced encouraging results of its maiden drill programme on the company's Eastern Desert Exploration (EDX) landholding in Egypt and furnished an update on the anticipated exploration programme for 2024.
CELTF's EDX blocks consist of 3,000km of greenfield exploration tenements within Egypt's Nubian Shield - a highly prospective geological belt that has not been explored using modern exploration methods. Further, its 2024 work program includes delineating potential resources and further drill targets in Egypt as part of the growth strategy.
During the fiscal year 2023, CELTF delivered solid performance and achieved 9.5 million hours worked at the Sukari Gold Mine with zero lost time injuries (LTI). Further, during the fourth quarter, its gold production was 128,127 ounces, totaling 450,058 oz produced for 2023.
CELTF's revenue increased 13% year-over-year to $891.26 million for the fiscal year that ended December 31, 2023. The company's adjusted EBITDA came in at $398.18 million, up 24.8% from the prior year. Its profit after tax attributable to the parent and EPS was $92.28 million and $7.97, representing an increase of 27% year-over-year, respectively.
Furthermore, the company's adjusted free cash flow came in at $49 million, compared to a negative $17.55 million in the previous year.
As per business guidance for fiscal 2024, CELTF expects gold production to range between 470,000 to 500,000 oz per annum, weighted evenly between H1:H2 (50:50).
Street expects CELTF's revenue for the fiscal year 2024 to increase 7.1% year-over-year to $947.65 million. CELTF's stock has gained 15.9% over the past month and 22.7% over the past six months to close the last trading session at $1.35.
CELTF's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The stock has a B grade for Value, Growth, Quality, and Stability. Within the Miners - Gold industry, CELTF has topped among 43 stocks.
<a href="https://stocknews.com/stock/CELTF/">Click here</a> to access additional ratings of CELTF for Momentum and Sentiment.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
CELTF shares were unchanged in premarket trading Thursday. Year-to-date, CELTF has gained 7.14%, versus a 10.40% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/celtf-dpmlf-cgau-rgld-3-gold-stocks-with-strong-gain-potential/>3 Gold Stocks With Strong Gain Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Gold Stocks With Strong Gain Potential

Dundee Precious Metals goes ex-dividend tomorrow

Gold prices recently broke through the $2,300 level, and market experts maintain a bullish call looking ahead. Against this backdrop, it could be wise to invest in top gold stocks Gold Fields (GFI), Barrick Gold (GOLD), and Dundee Precious Metals (DPMLF) in April for potential gains. Keep reading… Gold prices are hitting record highs week after week in 2024, and this trend is expected to continue in the near future. Geopolitical factors and economic uncertainties contribute to the upward trajectory of gold. Investors often view gold as a safe-haven asset during economic turmoil or market volatility, leading to increased demand and higher prices.
Given the industry's bright prospects, investors could consider investing in fundamentally sound gold stocks Gold Fields Limited (<a href="https://stocknews.com/stock/GFI/">GFI</a>), Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>), and Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>) for high-profit potential.
Gold is shining bright and is on the streak to hit record highs this year. The precious metal <a href="https://www.cnbc.com/2024/04/05/gold-has-broken-through-2300-and-one-cio-has-a-bullish-call-.html">broke above $2,300</a> yesterday, owing to geopolitical and structural factors, and is further expected to hit $2,600 per ounce within a year, according to a market veteran.
Geopolitics is being attributed as a medium-term bullish case for gold amid the ongoing conflicts in Gaza and Ukraine, the upcoming U.S. election, and the unwavering recession concerns around major economies. Also, the growing <a href="https://www.cnbc.com/2024/04/01/gold-prices-hit-new-record-high-on-fed-cut-expectations.html">probability of interest rate cuts</a> by the Federal Reserve is another primary factor boosting gold prices.
Lower borrowing costs tend to increase the appeal of yellow metal as investors shift away from fixed-income assets like bonds.
The gold market is projected at 4.42 kilotons in 2024 and is anticipated to reach 6.32 kilotons by 2029, expanding at a <a href="https://www.mordorintelligence.com/industry-reports/gold-market">CAGR of 7.4%</a> during the forecast period (2024-2029). The primary factor driving the market growth is the rising demand for gold in its varied forms, like jewelry, technology, and long-term savings.
<a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-full-year-2023/supply#:~:text=Total%20gold%20supply%20in%202023,and%20recycling%20both%20posted%20growth.&amp;text=Full%2Dyear%20recycled%20gold%20supply,record%20annual%20average%20gold%20price.">Gold mine production</a> observed a year-on-year growth of 3% for the second successive year, propelling the segment's growth. In 2023, the full-year recycled gold supply rose 9% to 1,237.3 tonnes, and the total supply reached 4,898.8 tonnes.
The global gold mining market is projected to grow to $260 billion by 2030 at a <a href="https://www.zionmarketresearch.com/report/gold-mining-market#:~:text=The%20global%20gold%20mining%20market,3.5%25%20between%202023%20and%202030.">CAGR of 3.5%</a> during the analysis period. Increasing jewelry demand across the globe is propelling market growth along with collaborations of major companies through merger and acquisition (M&amp;A).
Moreover, investors' interest in gold stocks is evident from the SPDR Gold Trust ETF's (<a href="https://stocknews.com/stock/GLD/">GLD</a>) 24.6% gains over the past six months.
In light of these encouraging trends, let's look at the fundamentals of the three best <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stocks, beginning with number 3.
Stock #3: Gold Fields Limited (<a href="https://stocknews.com/stock/GFI/">GFI</a>)
Headquartered in Sandton, South Africa, GFI operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. The company also explores for copper and silver deposits.
On April 2, 2024, GFI announced that it had started production at its Salares Norte mine in Chile's Atacama province, pouring its first gold-silver doré on March 28, 2024. The project will drive the company's growth, expand its portfolio, and add meaningfully to its cash flow profile.
On March 7, GFI completed the sale of all of its interest in the Asanko joint venture in Ghana to its joint venture partner, Galiano Gold Inc., and its subsidiaries. The transaction took place according to the share purchase agreement dated December 20, 2023.
As per consideration for the acquisition of GFI's joint venture interest, Galiano and its subsidiaries paid an aggregate cash purchase price of $150 million and $20 million by issuing 28,500,000 Galiano shares.
For the fiscal year that ended December 31, 2023, GFI's revenue increased 5% year-over-year to $4.50 billion. The company's profit before taxation grew 5.2% from the year-ago value to $1.21 billion. Its profit for the year of $726.30 million indicates marginal growth from the prior year.
Furthermore, the company's adjusted free cash flow and <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> came in at $367 million and $2.43 billion for the year, respectively.
Analysts expect GFI's revenue and EPS for the fiscal year (ending December 2024) to grow 16.6% and 12.3% year-over-year to $5.25 billion and $1.06, respectively. Further, the company topped the consensus EPS estimates in three of the trailing four quarters.
Over the past six months, the stock has surged 55.6% and 19.3% over the past year to close the last trading session at $16.68.
GFI's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
GFI has an A grade for Quality. It is ranked #10 out of 44 stocks in the <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry.
To check other POWR Ratings of GFI for Momentum, Growth, Value, Stability, and Sentiment, <a href="https://stocknews.com/stock/GFI/">click here</a>.
Stock #2: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
Based in Toronto, Canada, GOLD is engaged in the exploration, mine development, production, and sale of gold and copper properties internationally. The company has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.
On March 1, GOLD's Africa-based largest gold mine, Kibali, and the Autorite de Regulation de la Sous-Traitance dans le Secteur Prive, the body monitoring the DRC's sub-contracting sector, collaborated on a range of local content initiatives.
This strategic partnership has been designed to enhance the mine's extensive use of Congolese contractors and suppliers in line with parent company Barrick's global policy of supporting local businesses and employing host country nationals.
On February 14, the company declared a dividend of $0.10 per share for the fourth quarter of 2023. The dividend was paid on March 15, 2024, to shareholders of record at the close of business on February 29, 2024.
GOLD pays an annual dividend of $0.40, which translates to a yield of 2.30% at the current share price. Its four-year average dividend yield is 2.80%. Moreover, the company's dividend payouts have increased at a CAGR of 16.1% over the past five years.
During the fourth quarter that ended December 31, 2023, GOLD's revenues increased 6.9% from the prior quarter to $3.06 billion. The company's adjusted net earnings grew 11.5% and 12.5% quarter-on-quarter to $466 million and $0.27, respectively. Its attributable EBITDA and free cash flow were $1.07 billion and $136 million, respectively.
In addition, the company's total cash and equivalents and total assets came in at $4.15 billion and $45.81 billion as of December 31, 2023, respectively.
Street expects GOLD's revenue for the first quarter (ended March 2024) to increase 7.1% year-over-year to $2.83 billion, and its EPS for the same period is expected to grow 34.4% year-over-year to $0.19, respectively. Also, the company surpassed the consensus EPS estimates in each of the four trailing quarters.
Shares of GOLD have increased 14.4% over the past month and 22.5% over the past six months to close the last trading session at $17.39.
GOLD's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, translating to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Quality, and Sentiment. Within the Miners - Gold industry, GOLD is ranked #7 among the 44 stocks.
<a href="https://stocknews.com/stock/GOLD/">Click here</a> to access additional ratings of GOLD for Value, Momentum, and Stability.
Stock #1: Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>)
Headquartered in Toronto, Canada, DPMLF is a gold mining company that engages in the acquisition, exploration, development, mining, and processing of precious metals. It mainly explores gold, copper, and silver deposits. The company explores for gold, copper, and silver deposits and has a portfolio of projects in Bulgaria, Namibia, Serbia, and Ecuador.
On March 7, 2024, DPMLF entered a definitive share purchase agreement with a subsidiary of Sinomine Resource Group Co. Ltd. for the sale of its interest in the Tsumeb smelter located in Namibia by disposing off all the issued and outstanding shares it indirectly holds in Dundee Precious Metals Tsumeb Holding (Pty) Ltd. for consideration of $49 million in cash.
After the sale, DPMLF will be able to emphasize restructuring and simplifying its portfolio and focus on gold mining assets.
On December 18, 2023, DPMLF and Osino Resources Corp. entered a definitive agreement where DPMLF acquired all the issued and outstanding common shares of Osino. The transaction added Osino's high-quality, long-life Twin Hills open-pit gold project and an extensive exploration portfolio in Namibia to DPMLF's existing portfolio of assets.
The acquisition strengthens DPMLF's core competence and unique capabilities, adding a near-term producing asset and positioning DPMLF as a leading intermediate gold producer with exceptional assets and growth profile.
For the fourth quarter that ended December 31, 2023, DPMLF's revenue increased 23.3% year-over-year to $139.30 million. Its adjusted net earnings rose 66.7% and 72.2% from the year-ago values to $55.50 million and $0.31 per share, respectively. Its adjusted EBITDA was $79.60 million, an increase of 36.5% from the prior year's quarter.
Further, the company's free cash flow increased 55.5% year-over-year to $51.80 million.
Analysts expect DPMLF's revenue for the fiscal year (ending December 2025) to increase 5.2% year-over-year to $525.45 million. Also, shares of DPMLF have gained 5.8% over the past month and 30.5% over the past six months to close the last trading session at $7.61.
DPMLF's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
DPMLF has an A grade for Quality and Value. It has topped among 44 stocks within the same industry.
To see the other ratings of DPMLF for Sentiment, Growth, Momentum, and Stability, <a href="https://stocknews.com/stock/DPMLF/">click here</a>.
What To Do Next?
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<hr />
GOLD shares were trading at $17.51 per share on Friday morning, up $0.12 (+0.69%). Year-to-date, GOLD has declined -1.85%, versus a 8.85% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/gold-gfi-dpmlf-top-3-gold-stocks-for-a-bullish-april/>Top 3 Gold Stocks for a Bullish April</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Top 3 Gold Stocks for a Bullish April

Dundee Precious Mtl (TSE:DPM) has released an update. Dundee Precious Metals Inc. reported a strong start to 2024 with solid gold production perfor...

Dundee Precious Metals Hits Q1 Gold Targets

Dundee Precious Metals reports Q1 production of 701.2 Kt

Gold's prospects appear promising owing to the growing foreign investments to lower the reliance on the U.S. dollar and its appeal as a safe haven asset. Given this backdrop, fundamentally strong gold stocks Alamos Gold (AGI), Barrick Gold Corporation (GOLD), and Dundee Precious Metals (DPMLF) could be solid portfolio additions. Read on... Gold prices hit all-time highs recently, driven by the anticipation of interest rate cuts later this year. The surge in bullion prices can also be attributed to the purchases made by central banks worldwide, led by China and India, which are buying to diversify their foreign exchange reserves from U.S. dollar to gold.
Gold's future looks promising, bolstered by geopolitical tensions, the current inflationary environment, and its steadfast reputation as a safe-haven asset. This stability can provide a sense of security in uncertain times. Amid this backdrop, investors could consider buying quality gold stocks, such as Alamos Gold Inc. (<a href="https://stocknews.com/stock/AGI/">AGI</a>), Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>), and Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>).
Gold prices have fallen slightly from the peak due to easing tensions in the Middle East and signs that the Federal Reserve will keep interest rates higher for longer. However, the golden metal's long-term prospects appear bright as central banks are expected to keep bolstering their bullion reserves amid geopolitical tensions and concerns about a global economic slowdown.
Moreover, Chinese consumers and its central bank are buying gold like there is no tomorrow. The People's Bank of China's (PBOC) holdings of the precious metal rose by 5t in March, taking the total to 2,262t and extending the <a href="https://www.gold.org/goldhub/gold-focus/2024/04/chinas-gold-market-march-official-gold-reserves-rose-further-wholesale">purchasing streak to 17 months</a>, its longest-ever run of purchases.
Ed Yardeni, the President of Yardeni Research, believes that if inflation returns, gold prices could soar through the end of 2025 and rise as high as <a href="https://markets.businessinsider.com/news/commodities/gold-price-outlook-record-2025-inflation-oil-production-us-economy-2024-4?utm_medium=ingest&amp;utm_medium=referral&amp;utm_source=markets&amp;utm_source=yahoo.com">$3,500 by the end of next year</a>. Rosenberg Research's David Rosenberg believes gold looks poised to hit <a href="https://markets.businessinsider.com/news/commodities/gold-price-forecast-outlook-spot-fed-interest-rate-cut-rosenberg-2024-4?mrfhud=true&amp;utm_medium=ingest&amp;utm_source=markets">$3,000 per ounce</a>.
In light of these encouraging trends, let's look at the fundamentals of the three <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> stock picks, starting with the third in line.
Stock #3: Alamos Gold Inc. (<a href="https://stocknews.com/stock/AGI/">AGI</a>)
Headquartered in Toronto, Canada, AGI acquires, explores, develops, and extracts precious metals in Canada and Mexico. The company primarily explores gold deposits.
AGI's trailing-12-month CAPEX / Sales of 34.10% is 354.2% higher than the industry average of 7.51%. Its trailing-12-month EBIT margin and <a href="https://www.investopedia.com/terms/n/net_margin.asp">net income margin</a> of 31.09% and 20.52% are 176.5% and 296.5% higher than the industry averages of 11.24% and 5.18%, respectively.
AGI's operating revenues and earnings before income taxes for the fiscal fourth quarter that ended December 31, 2023, stood at $254.60 million and $71.90 million, up 9.8% and 16.7% year-over-year, respectively. For the same quarter, its net earnings and earnings per share increased 16% and 20% from the year-ago quarter to $47.10 million and $0.12, respectively.
Street expects AGI's revenue and EPS for the quarter ending June 30, 2024, to increase 11.9% and 33.3% year-over-year to $292.08 million and $0.20, respectively. The company surpassed consensus EPS estimates in each of the trailing four quarters and consensus revenue estimates in three of the trailing four quarters, which is impressive.
The stock has gained 22.1% over the past three months to close the last trading session at $14.76.
AGI's robust prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall B rating, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
It has a B grade for Sentiment and Quality. It is ranked #12 out of 42 stocks within the <a href="https://stocknews.com/category/gold-miners/">Miners - Gold</a> industry. <a href="https://stocknews.com/stock/AGI/">Click here</a> to see the additional POWR Ratings for AGI (Growth, Value, Momentum, and Stability).
Stock #2: Barrick Gold Corporation (<a href="https://stocknews.com/stock/GOLD/">GOLD</a>)
Headquartered in Toronto, Canada, GOLD explores, develops mines, produces, and sells gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials.
On March 20, GOLD announced that, based on the success of Kibali, which Barrick has built into Africa's largest gold mine, the company was ready to invest in new gold and copper opportunities in partnership with the government of the Democratic Republic of Congo.
GOLD's trailing-12-month EBITDA margin and levered FCF margin of 42.56% and 5.93% are 146.9% and 12.9% higher than the industry averages of 17.24% and 5.25%, respectively.
For the fiscal fourth quarter that ended December 31, 2023, GOLD's revenues increased 6.9% quarter-over-quarter to $3.06 billion, while free cash flow stood at $136 million. For the same quarter, its adjusted net earnings and adjusted net earnings per share increased 11.5% and 12.5% from the previous quarter to $466 million and $0.27, respectively.
As of December 31, 2023, GOLD's total current liabilities amounted to $2.36 billion, compared to $3.12 billion as of December 31, 2022.
Analysts expect GOLD's revenue and EPS for the quarter ending June 30, 2024, to increase 14.5% and 21.4% year-over-year to $3.24 billion and $0.23, respectively. The company surpassed consensus EPS estimates in each of the trailing four quarters.
The stock has gained 5.8% over the past month to close the last trading session at $16.42.
GOLD's POWR Ratings reflect its positive prospects. It has an overall B rating, equating to Buy in our proprietary rating system.
GOLD has a B grade for Growth and Quality. Within the same industry, it is ranked #9. To see the additional POWR Ratings of GOLD for Value, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/GOLD/">click here</a>.
Stock #1: Dundee Precious Metals Inc. (<a href="https://stocknews.com/stock/DPMLF/">DPMLF</a>)
DPMLF, headquartered in Toronto, Canada, acquires, explores, develops, mines, and processes precious metals. It owns and operates a gold, copper, and silver mine.
DPMLF's trailing-12-month gross profit margin of 53.05% is 85% higher than the industry average of 28.68%. Its trailing-12-month ROCE and ROTC of 17.22% and 10.95% are 154.7% and 109.5% higher than the industry averages of 6.76% and 5.23%, respectively.
DPMLF's revenue and adjusted EBITDA for the fiscal fourth quarter that ended December 31, 2023, increased 23.3% and 36.7% year-over-year to $139.30 million and $79.63 million, respectively. For the same quarter, its adjusted net earnings and adjusted net earnings per share stood at $55.47 million and $0.31, up 66.5% and 72.2% from the prior-year quarter, respectively.
For the year ending December 31, 2024, DPMLF's revenue is expected to increase 5.2% year-over-year to $546.90 million. The stock has gained 22.3% over the past three months, closing the last trading session at $7.55.
DPMLF's POWR Ratings reflect this promising outlook. It has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
DPMLF has an A grade for Value and Quality. Within the Miners - Gold industry, it is ranked first. To see DPMLF's Growth, Momentum, Stability, and Sentiment ratings, <a href="https://stocknews.com/stock/DPMLF/">click here</a>.
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<hr />
GOLD shares fell $16.42 (-100.00%) in premarket trading Tuesday. Year-to-date, GOLD has declined -8.74%, versus a 5.82% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/gold-agi-dpmlf-3-gold-stocks-positioned-for-breakthroughs/>3 Gold Stocks Positioned for Breakthroughs</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>