Lundin Gold Inc. (TSE:LUG) Given Average Recommendation of "Reduce" by Brokerages

Key Points

• Analyst consensus: Six brokers give Lundin Gold an average recommendation of "Reduce" (one sell, five hold) with a one-year average price target of C$93.25.
• The stock is trading around C$114.62 with a market cap of C$27.71 billion and a P/E of 35.05; the company reported C$1.33 EPS and C$697.82 million revenue last quarter, and analysts forecast roughly C$2.56 EPS for the year.
• Dividend increase: Lundin raised its quarterly dividend to C$1.1642 (C$4.66 annualized), a 4.1% yield and up from C$0.71, with an ex-dividend date of March 11 and payment on March 26.

Lundin Gold Inc. (TSE:LUG - Get Free Report) has earned an average recommendation of "Reduce" from the six ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$93.25.

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Lundin Gold from C$96.00 to C$111.00 in a report on Monday, December 8th. Canadian Imperial Bank of Commerce raised their price target on shares of Lundin Gold from C$123.00 to C$141.00 in a research report on Wednesday, February 4th. BMO Capital Markets lowered their target price on Lundin Gold from C$128.00 to C$119.00 in a research note on Monday, February 23rd. Canaccord Genuity Group increased their price target on Lundin Gold from C$103.00 to C$108.00 in a research report on Wednesday, November 12th. Finally, Cormark lifted their price objective on Lundin Gold from C$100.00 to C$115.00 in a research note on Wednesday, January 14th.

Lundin Gold Trading Up 2.0%

LUG opened at C$114.62 on Monday. The stock's 50-day moving average price is C$114.37 and its 200 day moving average price is C$105.21. Lundin Gold has a 12-month low of C$39.34 and a 12-month high of C$130.98. The firm has a market cap of C$27.71 billion, a price-to-earnings ratio of 35.05 and a beta of 1.30.

Lundin Gold (TSE:LUG - Get Free Report) last released its earnings results on Friday, February 20th. The company reported C$1.33 earnings per share for the quarter. The company had revenue of C$697.82 million during the quarter. Lundin Gold had a return on equity of 60.01% and a net margin of 44.42%. On average, research analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 26th will be issued a $1.1642 dividend. This represents a $4.66 annualized dividend and a yield of 4.1%. This is a positive change from Lundin Gold's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Wednesday, March 11th. Lundin Gold's dividend payout ratio is 71.56%.

Lundin Gold Company Profile

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.

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