Canadian Imperial Bank of Commerce Cuts Lundin Gold (TSE:LUG) Price Target to C$131.00

Lundin Gold (TSE:LUG) had its price target decreased by Canadian Imperial Bank of Commerce from C$137.00 to C$131.00 in a research note released on Monday,BayStreet.CA reports.

A number of other research firms have also recently weighed in on LUG. Desjardins reduced their price target on Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating for the company in a report on Monday, July 27th. ATB Cormark Capital Markets raised Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 price objective on the stock in a report on Friday, May 8th. Finally, Jefferies Financial Group cut their price objective on Lundin Gold from C$90.00 to C$88.00 in a research report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$101.33.

Lundin Gold Stock Performance

Shares of Lundin Gold stock opened at C$92.05 on Monday. The firm has a 50-day simple moving average of C$80.26 and a two-hundred day simple moving average of C$96.07. Lundin Gold has a fifty-two week low of C$71.51 and a fifty-two week high of C$130.98. The company has a market cap of C$22.26 billion, a P/E ratio of 23.91 and a beta of 1.62.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, August 6th. The company reported C$1.19 EPS for the quarter. Lundin Gold had a return on equity of 81.63% and a net margin of 46.31%.The firm had revenue of C$678.70 million for the quarter. Equities research analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 25th were given a $0.91 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $3.64 annualized dividend and a dividend yield of 4.0%. Lundin Gold’s dividend payout ratio (DPR) is 102.60%.

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company’s board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.