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

Shares of Lundin Gold Inc. (TSE:LUG) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$122.73 and last traded at C$121.53, with a volume of 133174 shares changing hands. The stock had previously closed at C$117.98.

Analyst Ratings Changes

Several research firms have weighed in on LUG. Raymond James Financial raised their target price on Lundin Gold from C$65.00 to C$80.00 in a report on Friday, October 10th. CIBC increased their price objective on Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. Canaccord Genuity Group boosted their target price on Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. BMO Capital Markets upped their target price on Lundin Gold from C$108.00 to C$115.00 in a research report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. Eight research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of C$78.04.

Lundin Gold Trading Up 3.7%

The firm has a 50-day moving average of C$112.41 and a two-hundred day moving average of C$93.16. The firm has a market cap of C$29.54 billion, a price-to-earnings ratio of 43.23 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 EPS for the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.The company had revenue of C$622.58 million for the quarter. As a group, equities analysts anticipate that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 22nd were paid a dividend of $0.7058 per share. This represents a $2.82 annualized dividend and a yield of 2.3%. 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 is currently 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.