Lundin Gold Inc. (TSE:LUG) Given Consensus Rating of “Buy” by Analysts

Lundin Gold Inc. (TSE:LUG) has earned an average rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$26.27.

Several analysts have issued reports on the company. CIBC upped their target price on Lundin Gold from C$25.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Wednesday. National Bank Financial raised shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. TD Securities lifted their target price on shares of Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Cormark upped their price target on shares of Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th. Finally, Jefferies Financial Group lifted their price objective on Lundin Gold from C$24.00 to C$26.00 in a report on Friday, July 12th.

Lundin Gold Stock Down 1.3 %

Shares of TSE:LUG opened at C$26.08 on Thursday. The firm has a fifty day moving average of C$23.90 and a 200 day moving average of C$20.53. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$28.26. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The firm has a market capitalization of C$6.25 billion, a PE ratio of 20.38 and a beta of 1.21.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, research analysts anticipate that Lundin Gold will post 2.0649739 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th will be issued a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date is Tuesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s payout ratio is currently 85.94%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 30,100 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$20.27, for a total transaction of C$610,253.42. 58.82% of the stock is currently owned by corporate 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.