Lundin Gold Inc. (TSE:LUG) Receives C$29.42 Average Price Target from Brokerages

Lundin Gold Inc. (TSE:LUG) has been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$29.42.

LUG has been the topic of several research reports. Raymond James downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Scotiabank raised their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. CIBC raised their target price on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Jefferies Financial Group raised their target price on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

Lundin Gold Trading Down 1.5 %

LUG stock opened at C$33.67 on Friday. The company has a market capitalization of C$8.08 billion, a PE ratio of 26.10 and a beta of 1.23. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89. The company’s 50 day moving average price is C$30.09 and its two-hundred day moving average price is C$24.21. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 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 for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, analysts predict that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were issued a $0.551 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.20 annualized dividend and a yield of 6.55%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s payout ratio is 82.95%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Insiders have sold a total of 72,840 shares of company stock worth $2,146,122 over the last quarter. Corporate insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

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.