The stock of Dundee Precious Metals Inc (TSE:DPM) gapped up by $0.01 today and has $8.03 target or 173.00% above today’s $2.94 share price. The 6 months technical chart setup indicates low risk for the $455.50M company. The gap was reported on Nov, 1 by Barchart.com. If the $8.03 price target is reached, the company will be worth $788.02M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 127,170 shares traded hands. Dundee Precious Metals Inc (TSE:DPM) has risen 41.24% since March 28, 2016 and is uptrending. It has outperformed by 38.22% the S&P500.
More notable recent Dundee Precious Metals Inc (TSE:DPM) news were published by: Reuters.com which released: “BRIEF-Dundee Precious Metals announces power blackout in Namibia results i…” on July 25, 2016, also Seekingalpha.com with their article: “Dundee Precious Metals: The Sale Of Kapan Was The Right Decision” published on March 03, 2016, Marketwired.com published: “Dundee Precious Metals Further Enhances Flexibility to Advance Growth Projects” on September 28, 2016. More interesting news about Dundee Precious Metals Inc (TSE:DPM) were released by: Reuters.com and their article: “BRIEF-Dundee Precious Metals says successfully amended $80 million Tranche…” published on September 28, 2016 as well as Marketwired.com‘s news article titled: “Dundee Precious Metals Announces Third Quarter Production Results and Timing …” with publication date: October 11, 2016.
Dundee Precious Metals Inc. is a Canada gold mining company. The company has a market cap of $455.50 million. The Firm is engaged in the acquisition, exploration, development, mining and processing of precious metals. It currently has negative earnings. The Company’s operates through its subsidiaries, such as Dundee Precious Metals Chelopech EAD (Chelopech), Dundee Precious Metals Kapan CJSC (Kapan) and Dundee Precious Metals Tsumeb (Proprietary) Limited (Tsumeb).
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