Lundin Gold (TSE:LUG) Given New C$23.00 Price Target at Jefferies Financial Group

Lundin Gold (TSE:LUG) had its price target lifted by Jefferies Financial Group from C$19.00 to C$23.00 in a research note released on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

LUG has been the subject of several other research reports. National Bankshares boosted their price objective on Lundin Gold from C$24.50 to C$24.75 in a report on Friday. Raymond James set a C$17.50 price objective on Lundin Gold and gave the company an outperform rating in a report on Thursday, January 25th. Scotiabank boosted their price objective on Lundin Gold from C$20.00 to C$21.00 and gave the company a sector perform rating in a report on Thursday, March 28th. Cormark boosted their price objective on Lundin Gold from C$22.00 to C$23.00 in a report on Friday. Finally, Veritas Investment Research boosted their price objective on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of C$21.84.

Lundin Gold Stock Performance

Shares of LUG opened at C$18.91 on Monday. The stock has a 50-day moving average of C$17.54 and a two-hundred day moving average of C$16.60. Lundin Gold has a one year low of C$14.23 and a one year high of C$20.36. The company has a debt-to-equity ratio of 31.98, a quick ratio of 1.41 and a current ratio of 2.86. The stock has a market cap of C$4.50 billion, a P/E ratio of 18.54 and a beta of 1.10.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%. The firm had revenue of C$259.63 million for the quarter. As a group, research analysts predict that Lundin Gold will post 1.3629738 EPS for the current year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.269 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.08 annualized dividend and a yield of 5.69%. Lundin Gold’s dividend payout ratio (DPR) is currently 52.94%.

Insiders Place Their Bets

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. 59.46% of the stock is owned by company insiders.

About Lundin Gold

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.