Lundin Gold Inc. (TSE:LUG) Receives C$29.42 Average Price Target from Analysts

Shares of Lundin Gold Inc. (TSE:LUG) have earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$29.42.

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. National Bank Financial upgraded shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. TD Securities lifted their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Finally, Scotiabank lifted their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold 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. Also, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Over the last ninety days, insiders have sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is currently owned by corporate insiders.

Lundin Gold Price Performance

LUG stock opened at C$34.19 on Friday. The firm has a 50 day moving average of C$29.67 and a 200-day moving average of C$23.88. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The firm has a market capitalization of C$8.21 billion, a P/E ratio of 26.50 and a beta of 1.23.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The firm had revenue of C$412.43 million during the quarter. As a group, sell-side analysts predict that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were paid a dividend of $0.551 per share. The ex-dividend date was Tuesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a dividend yield of 6.45%. Lundin Gold’s dividend payout ratio (DPR) is 82.95%.

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.