TD Securities Boosts Lundin Gold (TSE:LUG) Price Target to C$38.00

Lundin Gold (TSE:LUG) had its price objective increased by TD Securities from C$27.00 to C$38.00 in a report issued on Friday, BayStreet.CA reports.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group increased their price target on Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada increased their target price on Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. CIBC boosted their target price on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Canaccord Genuity Group increased their price target on shares of Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. Finally, Scotiabank lifted their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Price Performance

Shares of LUG stock opened at C$34.73 on Friday. The firm has a market cap of C$8.34 billion, a price-to-earnings ratio of 26.92 and a beta of 1.23. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.19. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a 50-day moving average price of C$28.65 and a 200 day moving average price of C$23.27.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The business had revenue of C$412.43 million for the quarter. Research analysts expect that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were issued a $0.551 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.35%. 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. Lundin Gold’s dividend payout ratio is 82.95%.

Insider Transactions at Lundin Gold

In related news, Senior Officer Chester See sold 14,900 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. In related news, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction that occurred 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 sold 72,840 shares of company stock valued at $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.