Lundin Gold (TSE:LUG) Reaches New 12-Month High on Analyst Upgrade

Lundin Gold Inc. (TSE:LUG) shares reached a new 52-week high during mid-day trading on Tuesday after Cormark raised their price target on the stock from C$100.00 to C$115.00. The stock traded as high as C$122.73 and last traded at C$121.53, with a volume of 133174 shares traded. The stock had previously closed at C$117.98.

LUG has been the topic of several other research reports. BMO Capital Markets lifted their price target on shares of Lundin Gold from C$118.00 to C$125.00 in a research note on Tuesday. Canaccord Genuity Group lifted their target price on Lundin Gold from C$103.00 to C$108.00 in a research report on Wednesday, November 12th. Raymond James Financial boosted their price target on Lundin Gold from C$65.00 to C$80.00 in a research note on Friday, October 10th. Jefferies Financial Group raised their price objective on Lundin Gold from C$96.00 to C$111.00 in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. upped their target price on Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. Eight analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of C$88.73.

Lundin Gold Trading Down 1.0%

The stock’s 50-day moving average price is C$113.72 and its 200-day moving average price is C$93.91. The company has a market capitalization of C$28.96 billion, a P/E ratio of 42.39 and a beta of 1.21.

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

Lundin Gold Increases Dividend

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