Lundin Gold (TSE:LUG) Posts Quarterly Earnings Results

Lundin Gold (TSE:LUG) released its quarterly earnings data on Thursday. The company reported C$1.33 earnings per share for the quarter, FiscalAI reports. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.

Lundin Gold Stock Performance

LUG opened at C$109.00 on Friday. The stock has a market cap of C$26.35 billion, a price-to-earnings ratio of 38.52 and a beta of 1.02. The stock’s 50 day moving average price is C$113.70 and its 200-day moving average price is C$101.54. Lundin Gold has a one year low of C$37.54 and a one year high of C$125.75.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 22nd were given a dividend of $0.7058 per share. This represents a $2.82 annualized dividend and a dividend yield of 2.6%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, December 5th. Lundin Gold’s dividend payout ratio (DPR) is presently 61.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Cormark increased their price objective on shares of Lundin Gold from C$100.00 to C$115.00 in a report on Wednesday, January 14th. BMO Capital Markets raised their target price on shares of Lundin Gold from C$118.00 to C$125.00 in a research note on Tuesday, January 13th. Canadian Imperial Bank of Commerce lifted their price target on shares of Lundin Gold from C$123.00 to C$141.00 in a report on Wednesday, February 4th. Canaccord Genuity Group increased their price objective on shares of Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. Finally, Jefferies Financial Group lifted their target price on Lundin Gold from C$96.00 to C$111.00 in a report on Monday, December 8th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of C$93.75.

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company’s board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.