Lundin Gold (TSE:LUG) Downgraded to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Lundin Gold (TSE:LUG) from a strong-buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

Several other research firms have also weighed in on LUG. Royal Bank of Canada upped their target price on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Scotiabank upped their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. CIBC boosted their price objective on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Cormark raised their target price on Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Finally, TD Securities upped their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Stock Down 0.9 %

Shares of LUG opened at C$34.60 on Tuesday. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The company has a 50-day simple moving average of C$29.30 and a 200-day simple moving average of C$23.67. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The firm has a market capitalization of C$8.30 billion, a P/E ratio of 26.82 and a beta of 1.23.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The business had revenue of C$412.43 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. On average, equities research 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 was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were paid a $0.551 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 6.37%. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

Insider Buying and Selling

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. Insiders have sold 72,840 shares of company stock valued at $2,146,122 in the last 90 days. 58.72% 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.