Lundin Gold (TSE:LUG) Price Target Raised to C$31.50 at Scotiabank

Lundin Gold (TSE:LUG) had its price objective increased by Scotiabank from C$25.50 to C$31.50 in a report published on Thursday morning,BayStreet.CA reports.

Several other research firms have also recently issued reports on LUG. Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Desjardins raised Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their target price on Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. National Bankshares upped their price target on 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. Finally, TD Securities upped their price target on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$29.92.

Lundin Gold Price Performance

Shares of Lundin Gold stock opened at C$33.30 on Thursday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The business’s 50 day simple moving average is C$31.68 and its two-hundred day simple moving average is C$25.74. The stock has a market capitalization of C$7.99 billion, a P/E ratio of 25.81 and a beta of 1.23. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The firm had revenue of C$440.77 million for the quarter. Analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Thursday, December 5th. Lundin Gold’s payout ratio is currently 82.95%.

Insider Activity

In related news, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Insiders have sold a total of 72,840 shares of company stock valued at $2,146,122 over the last ninety days. 58.72% of the stock is currently owned by corporate 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.