Lundin Gold (TSE:LUG) Releases Quarterly Earnings Results

Lundin Gold (TSE:LUG) issued its quarterly earnings results on Thursday. The company reported C$1.19 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$678.70 million during the quarter. Lundin Gold had a net margin of 45.73% and a return on equity of 68.29%.

Lundin Gold Stock Up 6.1%

Shares of LUG traded up C$5.33 on Friday, hitting C$92.03. The company’s stock had a trading volume of 705,186 shares, compared to its average volume of 638,065. The firm’s fifty day moving average price is C$80.03 and its 200-day moving average price is C$96.80. Lundin Gold has a fifty-two week low of C$71.51 and a fifty-two week high of C$130.98. The firm has a market capitalization of C$22.26 billion, a price-to-earnings ratio of 24.41 and a beta of 1.62.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, June 10th. Lundin Gold’s dividend payout ratio (DPR) is presently 84.62%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LUG. ATB Cormark Capital Markets upgraded Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 target price for the company in a research report on Friday, May 8th. Jefferies Financial Group cut their target price on shares of Lundin Gold from C$90.00 to C$88.00 in a research report on Monday, July 6th. Finally, Desjardins reduced their target price on shares of Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$102.17.

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.