Jefferies Financial Group Raises Lundin Gold (TSE:LUG) Price Target to C$26.00

Lundin Gold (TSE:LUG) had its price target increased by Jefferies Financial Group from C$24.00 to C$26.00 in a report published on Friday, BayStreet.CA reports.

A number of other research firms have also weighed in on LUG. CIBC lifted their price objective on shares of Lundin Gold from C$22.00 to C$25.00 in a research note on Wednesday, July 10th. National Bankshares upgraded shares of Lundin Gold from a sector perform rating to an outperform rating and lifted their price objective for the company from C$25.25 to C$27.75 in a research note on Monday, July 8th. Veritas Investment Research lifted their price objective on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Scotiabank lifted their price objective on shares of Lundin Gold from C$21.00 to C$23.50 in a research note on Thursday, May 23rd. Finally, Desjardins upgraded shares of Lundin Gold to a moderate buy rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lundin Gold currently has a consensus rating of Moderate Buy and an average target price of C$23.68.

Lundin Gold Trading Up 1.2 %

Shares of LUG stock opened at C$23.46 on Friday. The company has a 50 day moving average of C$20.12 and a 200-day moving average of C$18.12. The company has a quick ratio of 1.41, a current ratio of 3.08 and a debt-to-equity ratio of 33.65. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$23.61. The firm has a market cap of C$5.60 billion, a P/E ratio of 24.44 and a beta of 1.14.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.33 by C($0.01). Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. The company had revenue of C$305.68 million for the quarter. Sell-side analysts anticipate that Lundin Gold will post 1.6959518 earnings per share for the current year.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s dividend payout ratio is currently 57.29%.

Insider Transactions at Lundin Gold

In other news, Senior Officer Chester See sold 50,000 shares of Lundin Gold stock in a transaction on Friday, May 10th. The shares were sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. In other Lundin Gold news, Director Ian Gibbs sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. Also, Senior Officer Chester See sold 50,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. In the last ninety days, insiders sold 110,100 shares of company stock valued at $2,219,753. Insiders own 58.99% 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.