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On Tuesday, TD Securities began coverage on Dundee Precious Metals (DPM:CN) (OTC: DPMLF), assigning the stock a Buy rating and setting a price target of C$18.00. The firm’s analysts highlighted the company’s strong operational track record and its ability to generate free cash flow, contributing to a growing cash balance.
According to the analysts, Dundee Precious Metals has demonstrated discipline in mergers and acquisitions (M&A) activities. They noted that the market has been more open to strategic acquisitions, which could be advantageous for the company. The analysts believe this positions Dundee Precious Metals favorably as it continues to develop its Coka Rakita project.
The initiation of coverage by TD Securities comes as Dundee Precious Metals continues to focus on its operational efficiency and strategic growth. The firm’s analysts have expressed confidence in the company’s approach, suggesting that its patience and discipline in expanding its portfolio could yield positive results.
Dundee Precious Metals’ commitment to adding free cash flow and maintaining a strong cash balance has been a key factor in the Buy rating from TD Securities. This financial position could provide the company with the flexibility to pursue further growth opportunities as they arise.
The company’s ongoing development of the Coka Rakita project is also a critical aspect of its growth strategy. TD Securities’ analysts view the project as a potential catalyst for Dundee Precious Metals, as it exemplifies the company’s methodical approach to advancing its assets.
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