Royal Bank Of Canada Cuts Lundin Gold (TSE:LUG) Price Target to C$89.00

Lundin Gold (TSE:LUG) had its price target cut by Royal Bank Of Canada from C$98.00 to C$89.00 in a report released on Wednesday,BayStreet reports.

Other equities analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce lowered their price target on shares of Lundin Gold from C$137.00 to C$131.00 in a research report on Monday, August 10th. Desjardins decreased 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. Finally, Jefferies Financial Group lowered their target price on Lundin Gold from C$90.00 to C$88.00 in a report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Lundin Gold currently has a consensus rating of “Buy” and a consensus target price of C$99.33.

Lundin Gold Price Performance

Shares of TSE:LUG opened at C$91.75 on Wednesday. The business’s 50 day moving average price is C$89.81 and its 200-day moving average price is C$93.23. The firm has a market capitalization of C$22.19 billion, a PE ratio of 23.83 and a beta of 1.64. Lundin Gold has a 1 year low of C$71.51 and a 1 year high of C$130.98.

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

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 25th will be given a dividend of $1.0934 per share. This represents a $4.37 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.91. Lundin Gold’s dividend payout ratio is 102.60%.

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.