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

Shares of Lundin Gold Inc. (TSE:LUG) have earned an average rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$93.75.

A number of research firms have issued reports on LUG. Jefferies Financial Group increased their price objective on Lundin Gold from C$96.00 to C$111.00 in a report on Monday, December 8th. Scotiabank upped their price objective on shares of Lundin Gold from C$70.00 to C$90.00 in a report on Monday, January 26th. Cormark boosted their price target on Lundin Gold from C$100.00 to C$115.00 in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce lifted their price objective on Lundin Gold from C$123.00 to C$141.00 in a research note on Wednesday, February 4th. Finally, TD Securities raised their price target on Lundin Gold from C$95.00 to C$114.00 in a report on Thursday, January 22nd.

Lundin Gold Stock Up 0.3%

Shares of TSE LUG opened at C$109.27 on Thursday. The firm’s fifty day moving average is C$113.99 and its 200 day moving average is C$100.00. Lundin Gold has a 52 week low of C$37.03 and a 52 week high of C$125.75. The company has a market cap of C$26.41 billion, a price-to-earnings ratio of 38.61 and a beta of 1.02.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.86 EPS for the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.The company 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 company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 22nd were paid a $0.7058 dividend. This is a boost from Lundin Gold’s previous quarterly dividend of $0.68. This represents a $2.82 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, December 5th. Lundin Gold’s payout ratio is currently 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.