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

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

A number of other equities analysts have also commented on LUG. 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. Cormark raised their price target on Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. National Bankshares raised their price target on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. Finally, National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. Three 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$29.42.

Lundin Gold Price Performance

Shares of TSE LUG opened at C$34.73 on Friday. The stock has a fifty day simple moving average of C$28.65 and a two-hundred day simple moving average of C$23.33. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.19. 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. 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 (TSE:LUG) last posted its quarterly earnings results 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 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. Analysts anticipate that Lundin Gold will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a dividend of $0.551 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.20 dividend on an annualized basis and a yield of 6.35%. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the firm’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 Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the firm’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. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction dated 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 72,840 shares of company stock worth $2,146,122 over the last 90 days. Corporate insiders own 58.72% of the company’s stock.

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.