Lundin Gold (TSE:LUG) Releases Quarterly Earnings Results

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

Lundin Gold Stock Performance

Lundin Gold stock traded up C$0.20 during midday trading on Thursday, reaching C$86.70. 603,905 shares of the company were exchanged, compared to its average volume of 637,618. The company has a market capitalization of C$20.97 billion, a price-to-earnings ratio of 23.00 and a beta of 1.62. The firm’s 50-day simple moving average is C$80.02 and its 200-day simple moving average is C$97.04. Lundin Gold has a 1 year low of C$71.51 and a 1 year high of C$130.98.

Lundin Gold Cuts Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.2%. Lundin Gold’s dividend payout ratio (DPR) is presently 84.62%.

Wall Street Analysts Forecast Growth

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

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.