Lundin Gold (TSE:LUG) Price Target Increased to C$34.00 by Analysts at CIBC

Lundin Gold (TSE:LUG) had its target price increased by CIBC from C$28.00 to C$34.00 in a research note released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts have also issued reports on the stock. Scotiabank upped their price target on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Cormark raised their price target on Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th. Canaccord Genuity Group boosted their price objective on Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. National Bankshares raised their target price on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an outperform rating in a report on Wednesday, August 14th. Finally, Jefferies Financial Group upped their price target on shares of Lundin Gold from C$26.00 to C$29.00 in a report on Monday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of C$27.08.

Lundin Gold Stock Performance

Shares of TSE LUG opened at C$28.20 on Wednesday. The stock’s 50-day moving average is C$24.43 and its 200 day moving average is C$20.87. The stock has a market cap of C$6.76 billion, a price-to-earnings ratio of 22.20 and a beta of 1.23. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$28.30. 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 the consensus estimate 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 business had revenue of C$412.43 million for the quarter. On average, sell-side analysts anticipate that Lundin Gold will post 2.5546059 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th will be paid a $0.551 dividend. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date of this dividend is Tuesday, September 10th. Lundin Gold’s dividend payout ratio is presently 86.61%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 30,100 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. Insiders own 58.79% of the company’s stock.

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.