Lundin Gold (TSE:LUG) Price Target Increased to C$34.00 by Analysts at CIBC

Lundin Gold (TSE:LUG) had its price objective raised by CIBC from C$28.00 to C$34.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also issued reports on LUG. National Bankshares boosted their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. Canaccord Genuity Group raised their price objective on shares of Lundin Gold from C$27.50 to C$28.50 in a research note on Tuesday, August 20th. TD Securities lifted their price objective on Lundin Gold from C$24.00 to C$27.00 and gave the company a buy rating in a research report on Tuesday, July 30th. Scotiabank upped their target price on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Finally, Royal Bank of Canada boosted their target price on shares of Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lundin Gold has a consensus rating of Buy and a consensus price target of C$27.08.

Lundin Gold Stock Performance

Shares of TSE:LUG opened at C$29.43 on Wednesday. The company has a market cap of C$7.06 billion, a P/E ratio of 23.17 and a beta of 1.23. Lundin Gold has a one year low of C$14.23 and a one year high of C$29.71. The business’s 50-day simple moving average is C$24.92 and its 200 day simple moving average is C$21.07. 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 data 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 for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. On average, sell-side analysts forecast that Lundin Gold will post 2.5546059 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th will be issued a $0.551 dividend. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 7.49%. The ex-dividend date of this dividend is Tuesday, September 10th. Lundin Gold’s dividend payout ratio is currently 86.61%.

Insider Activity

In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$20.27, for a total value of C$610,253.42. In related news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$20.27, for a total value of C$610,253.42. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. 58.79% of the stock is currently owned by company insiders.

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.