Lundin Gold Inc. (TSE:LUG) Given Average Rating of “Reduce” by Brokerages

Shares of Lundin Gold Inc. (TSE:LUG) have received an average rating of “Reduce” from the nine brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$88.73.

Several brokerages recently issued reports on LUG. Jefferies Financial Group raised their target price on shares of Lundin Gold from C$96.00 to C$111.00 in a research note on Monday, December 8th. BMO Capital Markets raised their price objective on Lundin Gold from C$118.00 to C$125.00 in a research report on Tuesday, January 13th. Raymond James Financial boosted their target price on Lundin Gold from C$65.00 to C$80.00 in a report on Friday, October 10th. Canaccord Genuity Group increased their price target on Lundin Gold from C$103.00 to C$108.00 in a research note on Wednesday, November 12th. Finally, Cormark lifted their price objective on shares of Lundin Gold from C$100.00 to C$115.00 in a research report on Wednesday.

Lundin Gold Trading Down 3.3%

TSE LUG opened at C$115.97 on Friday. The company has a market cap of C$28.00 billion, a PE ratio of 40.98 and a beta of 1.21. Lundin Gold has a 12 month low of C$33.80 and a 12 month high of C$124.13. The stock has a 50 day moving average of C$114.01 and a 200-day moving average of C$94.37.

Lundin Gold (TSE:LUG) last issued its earnings results on Friday, November 7th. The company reported C$0.86 earnings per share 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%. As a group, sell-side analysts predict that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Increases Dividend

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

Lundin Gold Company Profile

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.