DPM (Dundee Precious Metals Inc) vs S&P TSX Composite Index (Canada) Comparison

DPM

S&P TSX Composite Index (Canada)

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DPM

S&P TSX Composite Index (Canada)

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DPM

S&P TSX Composite Index (Canada)

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S&P TSX Composite Index (Canada)

DPM

601899

NEM

AEM

ABX

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Dundee Precious Metals Inc
Glance View

Market Cap

2.4B CAD

Industry

Metals & Mining

Dundee Precious Metals Inc., rooted in the heart of the mining and metals industry, has carved a niche for itself through its strategic approach to extracting and processing precious metals. The company's journey began with a commitment to mining excellence, focusing primarily on the discovery, acquisition, and development of precious metal properties. Operating mainly in Bulgaria and Namibia, Dundee Precious Metals is heavily invested in its two major mines: the Chelopech underground gold-copper mine in Bulgaria and the Tsumeb smelter in Namibia. These assets form the backbone of its production capabilities, enabling the company to efficiently and sustainably tap into the lucrative markets for gold and copper, thus securing a solid revenue stream. What sets Dundee Precious Metals apart is its integration of technology and commitment to sustainability, which adds a modern edge to its longstanding mining heritage. The company's advanced data analytics and innovative mining techniques ensure maximum resource extraction and minimal environmental impact. It converts mined ore into concentrated metals, subsequently selling these products in global markets where demand for such commodities remains robust. By investing in technology and sustainable practices, Dundee minimizes production costs and enhances its profitability, allowing it to thrive amid the cyclical nature of the metals market. This agile business model positions Dundee not only as a competitor but as an innovator within the industry, steadily transforming the challenges of modern mining into opportunities for growth and profitability.

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DPM Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

RU	P	Polyus PJSC LSE:PLZL	Add
ZA	G	Gold Fields Ltd JSE:GFI	Add
ZA	H	Harmony Gold Mining Company Ltd JSE:HAR	Add
CN		Zijin Mining Group Co Ltd SSE:601899	Add
US		Newmont Corporation NYSE:NEM	Add
CA		Agnico Eagle Mines Ltd TSX:AEM	Add
CA		Barrick Gold Corp TSX:ABX	Add
CA		Wheaton Precious Metals Corp TSX:WPM	Add
CA		Franco-Nevada Corp TSX:FNV	Add
RU		Polyus PAO MOEX:PLZL	Add

RU	P	Polyus PJSC LSE:PLZL	Select
ZA	G	Gold Fields Ltd JSE:GFI	Select
ZA	H	Harmony Gold Mining Company Ltd JSE:HAR	Select
CN		Zijin Mining Group Co Ltd SSE:601899	Select
US		Newmont Corporation NYSE:NEM	Select
CA		Agnico Eagle Mines Ltd TSX:AEM	Select
CA		Barrick Gold Corp TSX:ABX	Select
CA		Wheaton Precious Metals Corp TSX:WPM	Select
CA		Franco-Nevada Corp TSX:FNV	Select
RU		Polyus PAO MOEX:PLZL	Select

RU	P	Polyus PJSC LSE:PLZL	Add
ZA	G	Gold Fields Ltd JSE:GFI	Add
ZA	H	Harmony Gold Mining Company Ltd JSE:HAR	Add
CN		Zijin Mining Group Co Ltd SSE:601899	Add
US		Newmont Corporation NYSE:NEM	Add
CA		Agnico Eagle Mines Ltd TSX:AEM	Add
CA		Barrick Gold Corp TSX:ABX	Add
CA		Wheaton Precious Metals Corp TSX:WPM	Add
CA		Franco-Nevada Corp TSX:FNV	Add
RU		Polyus PAO MOEX:PLZL	Add

CA	A	Advance Lithium Corp XTSX:AALI	Add
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NL	N	Nepi Rockcastle NV JSE:NRP	Add
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CH	G	Galderma Group AG SIX:GALD	Add
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IN		Jio Financial Services Ltd NSE:JIOFIN	Add

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DPM

vs

S&P TSX Composite Index (Canada)

Stocks Performance
DPM vs S&P TSX Composite Index (Canada)

Performance Gap
DPM vs S&P TSX Composite Index (Canada)

Performance By Year
DPM vs S&P TSX Composite Index (Canada)

Competitors Performance
Dundee Precious Metals Inc vs Peers

Dundee Precious Metals Inc
Glance View

Company

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DPM vs S&P TSX Composite Index (Canada)

Stocks Performance DPM vs S&P TSX Composite Index (Canada)

Performance Gap DPM vs S&P TSX Composite Index (Canada)

Performance By Year DPM vs S&P TSX Composite Index (Canada)

Competitors Performance Dundee Precious Metals Inc vs Peers

Dundee Precious Metals Inc Glance View

Company

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Stocks

DPM

vs

S&P TSX Composite Index (Canada)

Stocks Performance
DPM vs S&P TSX Composite Index (Canada)

Performance Gap
DPM vs S&P TSX Composite Index (Canada)

Performance By Year
DPM vs S&P TSX Composite Index (Canada)

Competitors Performance
Dundee Precious Metals Inc vs Peers

Dundee Precious Metals Inc
Glance View