Lundin Gold (TSE:LUG) Sets New 52-Week High Following Analyst Upgrade

Lundin Gold Inc. (TSE:LUG) reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$70.00 to C$90.00. The company traded as high as C$124.69 and last traded at C$124.03, with a volume of 75869 shares changing hands. The stock had previously closed at C$120.92.

Other equities analysts have also issued reports about the company. CIBC boosted their target price on Lundin Gold from C$116.00 to C$123.00 in a research report on Thursday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. Cormark upped their target price on shares of Lundin Gold from C$100.00 to C$115.00 in a research note on Wednesday, January 14th. Raymond James Financial increased their target price on shares of Lundin Gold from C$65.00 to C$80.00 in a report on Friday, October 10th. Finally, Jefferies Financial Group boosted their price target on shares of Lundin Gold from C$96.00 to C$111.00 in a report on Monday, December 8th. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of C$92.25.

Lundin Gold Stock Down 2.2%

The company’s fifty day moving average price is C$114.88 and its two-hundred day moving average price is C$96.55. The company has a market cap of C$28.54 billion, a price-to-earnings ratio of 41.78 and a beta of 1.21.

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

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 22nd were issued a $0.7058 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, December 5th. Lundin Gold’s dividend payout ratio is presently 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.