Lundin Gold (TSE:LUG) Announces Quarterly Earnings Results

Lundin Gold (TSE:LUG) announced its quarterly earnings results on Thursday. The company reported C$1.33 EPS for the quarter, FiscalAI reports. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.

Lundin Gold Trading Up 1.5%

TSE LUG traded up C$1.60 during midday trading on Thursday, hitting C$109.00. The company had a trading volume of 342,742 shares, compared to its average volume of 624,495. The firm has a 50-day moving average price of C$113.70 and a 200-day moving average price of C$101.54. The company has a market capitalization of C$26.35 billion, a PE ratio of 38.52 and a beta of 1.02. Lundin Gold has a twelve month low of C$37.54 and a twelve month high of C$125.75.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 22nd were given a $0.7058 dividend. The ex-dividend date was Friday, December 5th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.68. This represents a $2.82 dividend on an annualized basis and a dividend yield of 2.6%. Lundin Gold’s dividend payout ratio (DPR) is presently 61.48%.

Analysts Set New Price Targets

Several equities analysts recently commented on LUG shares. Canaccord Genuity Group increased their target price on shares of Lundin Gold from C$103.00 to C$108.00 in a research report on Wednesday, November 12th. Scotiabank upped their price target on Lundin Gold from C$70.00 to C$90.00 in a research note on Monday, January 26th. BMO Capital Markets raised their price objective on shares of Lundin Gold from C$118.00 to C$125.00 in a research note on Tuesday, January 13th. Canadian Imperial Bank of Commerce increased their price target on shares of Lundin Gold from C$123.00 to C$141.00 in a research report on Wednesday, February 4th. Finally, Cormark increased their price target on Lundin Gold from C$100.00 to C$115.00 in a report on Wednesday, January 14th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Lundin Gold presently has an average rating of “Reduce” and a consensus target price of C$93.75.

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.