Lundin Gold (TSE:LUG) Cut to Market Perform at Raymond James

Raymond James downgraded shares of Lundin Gold (TSE:LUG) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. They currently have C$29.00 target price on the stock, up from their prior target price of C$25.00. Raymond James also issued estimates for Lundin Gold’s Q3 2024 earnings at $0.57 EPS, Q4 2024 earnings at $0.64 EPS, FY2024 earnings at $2.09 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.49 EPS.

Other equities analysts have also issued reports about the company. TD Securities raised their price target on Lundin Gold from C$24.00 to C$27.00 and gave the stock a buy rating in a report on Tuesday, July 30th. Cormark lifted their target price on Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. Jefferies Financial Group upped their price target on Lundin Gold from C$26.00 to C$29.00 in a research report on Monday, September 9th. Canaccord Genuity Group raised their price objective on shares of Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. Finally, National Bankshares boosted their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an outperform rating in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lundin Gold presently has a consensus rating of Moderate Buy and a consensus target price of C$27.42.

Lundin Gold Trading Up 0.7 %

Shares of LUG opened at C$29.93 on Monday. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$30.64. The business has a 50-day moving average of C$26.08 and a 200 day moving average of C$21.87. The firm has a market cap of C$7.18 billion, a P/E ratio of 23.38 and a beta of 1.23. 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 earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share 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 return on equity of 22.88% and a net margin of 24.30%. As a group, research analysts forecast that Lundin Gold will post 2.5613577 EPS for the current year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.551 per share. The ex-dividend date was Tuesday, September 10th. This represents a $2.20 annualized dividend and a dividend yield of 7.36%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) is 85.16%.

Insider Transactions at Lundin Gold

In related news, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction that occurred 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 the last ninety days, insiders sold 72,840 shares of company stock valued at $2,146,122. Insiders own 58.75% 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.