Lundin Gold (TSE:LUG) Sets New 12-Month High – Here’s What Happened

Lundin Gold Inc. (TSE:LUG) shares reached a new 52-week high on Tuesday . 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LUG shares. Raymond James Financial boosted their target price on Lundin Gold from C$65.00 to C$80.00 in a research report on Friday, October 10th. Jefferies Financial Group upped their price objective on shares of Lundin Gold from C$96.00 to C$111.00 in a research note on Monday, December 8th. CIBC lifted their target price on shares of Lundin Gold from C$116.00 to C$123.00 in a research report on Thursday, November 13th. BMO Capital Markets boosted their price target on shares of Lundin Gold from C$108.00 to C$115.00 in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. Eight analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of C$78.04.

Lundin Gold Trading Up 3.7%

The business’s 50-day simple moving average is C$112.41 and its 200-day simple moving average is C$93.16. The company has a market cap of C$29.54 billion, a PE ratio of 43.23 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 (EPS) for the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.The business had revenue of C$622.58 million during the quarter. On average, research analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 22nd were given a dividend of $0.7058 per share. The ex-dividend date of this dividend was Friday, December 5th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.68. This represents a $2.82 annualized dividend and a yield of 2.3%. Lundin Gold’s payout ratio is 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.