Lundin Gold (TSE:LUG) Hits New 52-Week High on Analyst Upgrade

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

LUG has been the topic of several other research reports. CIBC upped their target price on Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. Raymond James Financial boosted their price target 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 Lundin Gold from C$96.00 to C$111.00 in a research note on Monday, December 8th. 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. Finally, Cormark boosted their target price on shares of Lundin Gold from C$100.00 to C$115.00 in a report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of C$92.25.

Lundin Gold Price Performance

The stock has a market capitalization of C$28.54 billion, a P/E ratio of 41.78 and a beta of 1.21. The stock’s 50-day simple moving average is C$114.77 and its 200 day simple moving average is C$96.21.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data 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 for the quarter. Lundin Gold had a net margin of 29.56% and a return on equity of 29.88%. As a group, analysts expect that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

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