Brokerages Set Lundin Gold Inc. (TSE:LUG) Target Price at C$78.04

Lundin Gold Inc. (TSE:LUG) has received an average recommendation of “Reduce” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$78.04.

A number of brokerages recently issued reports on LUG. BMO Capital Markets increased their price objective on Lundin Gold from C$108.00 to C$115.00 in a research report on Tuesday, December 9th. CIBC raised their price target on Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. Jefferies Financial Group boosted their price objective on Lundin Gold from C$96.00 to C$111.00 in a report on Monday, December 8th. Canaccord Genuity Group upped their price objective on shares of Lundin Gold from C$103.00 to C$108.00 in a research report on Wednesday, November 12th. Finally, Raymond James Financial raised their target price on shares of Lundin Gold from C$65.00 to C$80.00 in a research note on Friday, October 10th.

Lundin Gold Trading Up 1.1%

LUG stock opened at C$115.69 on Wednesday. The firm has a 50 day moving average of C$108.94 and a 200-day moving average of C$90.51. The firm has a market capitalization of C$27.93 billion, a P/E ratio of 40.88 and a beta of 1.19. Lundin Gold has a 12 month low of C$30.04 and a 12 month high of C$121.92.

Lundin Gold (TSE:LUG) last posted its earnings results 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 for the quarter. Sell-side analysts predict that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 22nd were given a dividend of $0.7058 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, December 5th. This represents a $2.82 annualized dividend and a dividend yield of 2.4%. Lundin Gold’s dividend payout ratio 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.