Raymond James Raises Lundin Gold (TSE:LUG) Price Target to C$25.00

Lundin Gold (TSE:LUG) had its price target raised by Raymond James from C$21.00 to C$25.00 in a research report report published on Wednesday morning, BayStreet.CA reports. Raymond James also issued estimates for Lundin Gold’s Q2 2024 earnings at $0.54 EPS, Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $1.96 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.86 EPS.

A number of other equities research analysts have also commented on the company. National Bankshares upgraded Lundin Gold from a sector perform rating to an outperform rating and raised their price objective for the stock from C$25.25 to C$27.75 in a research report on Monday, July 8th. Veritas Investment Research boosted their price objective on shares of Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Desjardins upgraded shares of Lundin Gold to a moderate buy rating in a research note on Friday, May 10th. CIBC lifted their target price on shares of Lundin Gold from C$22.00 to C$25.00 in a research note on Wednesday, July 10th. Finally, Canaccord Genuity Group upped their price target on shares of Lundin Gold from C$25.00 to C$27.50 in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$24.65.

Lundin Gold Stock Up 1.0 %

Shares of TSE:LUG opened at C$23.97 on Wednesday. The firm has a 50 day simple moving average of C$21.06 and a 200 day simple moving average of C$18.79. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$24.66. The company has a debt-to-equity ratio of 33.65, a quick ratio of 1.41 and a current ratio of 3.08. The company has a market cap of C$5.73 billion, a PE ratio of 24.77 and a beta of 1.14.

Lundin Gold (TSE:LUG) last released its earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.01). Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%. The business had revenue of C$305.68 million during the quarter. As a group, research analysts expect that Lundin Gold will post 1.6959518 earnings per share for the current year.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s dividend payout ratio is 57.29%.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Ian Gibbs sold 30,000 shares of Lundin Gold stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total value of C$597,000.00. In other news, Senior Officer Chester See sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total value of C$1,012,500.00. Also, Director Ian Gibbs sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total value of C$597,000.00. Over the last three months, insiders sold 110,100 shares of company stock worth $2,219,753. 58.99% of the stock is owned by insiders.

About Lundin Gold

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.