Lundin Gold (TSE:LUG) Stock Jumps 8.6% – Still a Buy?

Shares of Lundin Gold Inc. (TSE:LUG) traded up 8.6% during mid-day trading on Friday. The company traded as high as C$94.51 and last traded at C$94.19. Approximately 326,738 shares were traded during trading, a decline of 47% from the average daily volume of 616,043 shares. The stock had previously closed at C$86.71.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. 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 research report on Monday, July 27th. Canadian Imperial Bank of Commerce cut their target price on Lundin Gold from C$137.00 to C$131.00 in a research note on Monday, August 10th. Royal Bank Of Canada decreased their price target on Lundin Gold from C$98.00 to C$89.00 in a research report on Wednesday, September 16th. Finally, Jefferies Financial Group cut their price objective on shares of 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, Based on data from MarketBeat.com, Lundin Gold has an average rating of “Buy” and a consensus price target of C$99.33.

Lundin Gold Price Performance

The stock has a market capitalization of C$22.92 billion, a PE ratio of 24.62 and a beta of 1.69. The firm’s 50 day simple moving average is C$92.53 and its 200 day simple moving average is C$90.89.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. Lundin Gold had a net margin of 46.31% and a return on equity of 81.63%. The company had revenue of C$678.70 million during the quarter. Analysts expect that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 25th were issued a $1.0934 dividend. This is an increase from Lundin Gold’s previous quarterly dividend of $0.91. This represents a $4.37 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Thursday, September 10th. Lundin Gold’s dividend payout ratio (DPR) is presently 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.