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

Lundin Gold Inc. (TSE:LUG) has been given an average recommendation of “Reduce” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$78.04.

Several equities research analysts have issued reports on LUG shares. Jefferies Financial Group lifted their price target on Lundin Gold from C$96.00 to C$111.00 in a research note on Monday, December 8th. Canaccord Genuity Group raised their price objective on Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. Raymond James Financial boosted their target price on Lundin Gold from C$65.00 to C$80.00 in a research report on Friday, October 10th. JPMorgan Chase & Co. increased their price target on shares of Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. Finally, BMO Capital Markets boosted their price objective on shares of Lundin Gold from C$108.00 to C$115.00 in a report on Tuesday, December 9th.

Lundin Gold Price Performance

LUG stock opened at C$118.78 on Wednesday. The firm has a 50 day simple moving average of C$108.60 and a two-hundred day simple moving average of C$89.93. The stock has a market cap of C$28.67 billion, a PE ratio of 41.97 and a beta of 1.19. Lundin Gold has a one year low of C$30.04 and a one year high of C$121.92.

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

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 22nd were given a $0.7058 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, December 5th. This is a boost 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.