11:39 AM EDT, 07/08/2024 (MT Newswires) -- Dundee Precious Metals ( DPMLF ) on Monday reported preliminary production results for the second quarter.

The company produced 67,600 ounces of gold and 7.9 million pounds of copper for the three months ended June 30.

Gold sales totaled 60,800 ounces while copper sales reached 6.4 million pounds.

Dundee maintained its full-year 2024 production guidance of 245,000-285,000 ounces of gold and 29 million-34 million pounds of copper.

The company plans to release its second-quarter financial results after the close of trading on Aug. 1.

National Bank of Canada maintained its outperform rating and $14.00 price target on the company's shares after the release of the preliminary results.

The bank said in a Monday note that its thesis for Dundee considers the company's elevated free cash flow, discounted valuation, favorable jurisdictions and a simplified strategy following recent divestments.

Dundee's shares were last seen up $0.11 to $11.31 on the Toronto Stock Exchange.

Price: 11.30, Change: +0.10, Percent Change: +0.89