Lundin Gold (TSE:LUG) Sets New 1-Year High Following Analyst Upgrade

Lundin Gold Inc. (TSE:LUG)’s stock price reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$70.00 to C$90.00. The stock traded as high as C$124.69 and last traded at C$124.03, with a volume of 75869 shares changing hands. The stock had previously closed at C$120.92.

A number of other research analysts have also recently issued reports on LUG. CIBC boosted their price objective on shares of Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. Canaccord Genuity Group boosted their price target on shares of Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. Raymond James Financial raised their price objective on Lundin Gold from C$65.00 to C$80.00 in a research note on Friday, October 10th. JPMorgan Chase & Co. lifted their target price on Lundin Gold from C$16.00 to C$28.00 in a report on Friday, October 10th. Finally, TD Securities boosted their target price on Lundin Gold from C$95.00 to C$114.00 in a research note on Thursday. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Reduce” and an average target price of C$92.25.

Lundin Gold Trading Down 2.2%

The company has a 50 day simple moving average of C$114.77 and a 200 day simple moving average of C$96.21. The stock has a market cap of C$28.54 billion, a P/E ratio of 41.78 and a beta of 1.21.

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

Lundin Gold Increases Dividend

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