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

Shares of Lundin Gold Inc. (TSE:LUG) have received a consensus recommendation of “Reduce” from the nine ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$88.73.

LUG has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. CIBC increased their target price on shares of Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. BMO Capital Markets lifted their price target on shares of Lundin Gold from C$118.00 to C$125.00 in a research report on Tuesday, January 13th. Cormark upped their price objective on shares of Lundin Gold from C$100.00 to C$115.00 in a research report on Wednesday. Finally, Raymond James Financial lifted their target price on Lundin Gold from C$65.00 to C$80.00 in a report on Friday, October 10th.

Lundin Gold Price Performance

Shares of TSE:LUG opened at C$115.97 on Friday. The stock has a market cap of C$28.00 billion, a price-to-earnings ratio of 40.98 and a beta of 1.21. The company has a 50 day moving average of C$114.01 and a 200-day moving average of C$94.37. Lundin Gold has a one year low of C$33.80 and a one year high of C$124.13.

Lundin Gold (TSE:LUG) last released its earnings results on Friday, November 7th. The company reported C$0.86 EPS for the quarter. Lundin Gold had a net margin of 29.56% and a return on equity of 29.88%. The firm had revenue of C$622.58 million during the quarter. Equities research analysts anticipate that Lundin Gold will post 2.5603448 earnings per share 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 issued a dividend of $0.7058 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, December 5th. This represents a $2.82 annualized dividend and a yield of 2.4%. 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.