Lundin Gold Inc. (TSE:LUG) Receives Average Recommendation of “Reduce” from Analysts

Lundin Gold Inc. (TSE:LUG) has been given an average recommendation of “Reduce” by the nine analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$78.04.

LUG has been the subject of several research reports. CIBC increased their price target on Lundin Gold from C$116.00 to C$123.00 in a research note on Thursday, November 13th. Canaccord Genuity Group raised their price objective on shares of Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. Raymond James Financial lifted their price objective on shares of Lundin Gold from C$65.00 to C$80.00 in a research note on Friday, October 10th. Jefferies Financial Group increased their target price on Lundin Gold from C$96.00 to C$111.00 in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. raised their price target on Lundin Gold from C$16.00 to C$28.00 in a report on Friday, October 10th.

Lundin Gold Stock Down 0.4%

Lundin Gold stock opened at C$120.00 on Wednesday. Lundin Gold has a 52 week low of C$30.04 and a 52 week high of C$121.92. The company’s 50 day moving average price is C$107.83 and its two-hundred day moving average price is C$88.85. The stock has a market cap of C$28.97 billion, a P/E ratio of 42.40 and a beta of 1.19.

Lundin Gold (TSE:LUG) last released its earnings results on Friday, November 7th. The company reported C$0.86 earnings per share (EPS) for the quarter. The company had revenue of C$622.58 million during the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%. On average, equities analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 22nd were paid a $0.7058 dividend. The ex-dividend date was Friday, December 5th. This represents a $2.82 annualized dividend and a yield of 2.4%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.68. Lundin Gold’s dividend payout ratio is 61.48%.

About Lundin Gold

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.