Lundin Gold (TSE:LUG) Stock Rating Lowered by Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Lundin Gold (TSE:LUG) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

Several other research analysts also recently commented on LUG. Jefferies Financial Group raised their target price on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. National Bankshares raised their price target on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Royal Bank of Canada raised their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. Finally, TD Securities raised their price target on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Stock Up 0.2 %

Shares of TSE LUG opened at C$34.67 on Tuesday. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The business has a 50-day simple moving average of C$29.49 and a two-hundred day simple moving average of C$23.74. 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 company has a market cap of C$8.32 billion, a P/E ratio of 26.88 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its 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). Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The company had revenue of C$412.43 million during the quarter. Research analysts anticipate 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. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.551 per share. This represents a $2.20 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend was Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s payout ratio is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the business’s stock in a transaction dated 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 news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Over the last quarter, insiders sold 72,840 shares of company stock valued at $2,146,122. Company 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.