Scotiabank Boosts Lundin Gold (TSE:LUG) Price Target to C$25.50

Lundin Gold (TSE:LUG) had its target price upped by Scotiabank from C$23.50 to C$25.50 in a report issued on Monday morning, BayStreet.CA reports.

Several other research analysts have also issued reports on LUG. CIBC increased their price target on shares of Lundin Gold from C$22.00 to C$25.00 in a research note on Wednesday, July 10th. Cormark upped their target price on shares of Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. Desjardins raised Lundin Gold to a moderate buy rating in a research note on Friday, May 10th. Raymond James lifted their price objective on shares of Lundin Gold from C$21.00 to C$25.00 in a research report on Wednesday, July 31st. Finally, National Bankshares lifted their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an outperform rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold currently has a consensus rating of Buy and a consensus price target of C$26.00.

Lundin Gold Trading Up 2.0 %

LUG opened at C$28.11 on Monday. The firm has a market capitalization of C$6.74 billion, a price-to-earnings ratio of 21.79 and a beta of 1.14. Lundin Gold has a one year low of C$14.23 and a one year high of C$28.26. The business has a 50 day simple moving average of C$22.40 and a two-hundred day simple moving average of C$19.72. The company has a debt-to-equity ratio of 33.65, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a $0.551 dividend. This represents a $2.20 annualized dividend and a yield of 7.84%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 10th. Lundin Gold’s payout ratio is presently 85.27%.

Insider Activity

In other news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$20.27, for a total transaction of C$610,253.42. Company insiders own 58.83% 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.