Lundin Gold Inc. (TSE:LUG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Lundin Gold Inc. (TSE:LUG) have received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$27.42.

LUG has been the subject of several analyst reports. CIBC increased their price target on shares of Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Cormark lifted their price target on shares of Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price objective for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Jefferies Financial Group boosted their target price on Lundin Gold from C$26.00 to C$29.00 in a research note on Monday, September 9th. Finally, Royal Bank of Canada increased their price target on Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th.

Insider Activity

In related news, Senior Officer Terrence Smith sold 25,740 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. Also, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Insiders have sold 72,840 shares of company stock valued at $2,146,122 in the last ninety days. Insiders own 58.75% of the company’s stock.

Lundin Gold Stock Performance

Shares of TSE:LUG opened at C$29.18 on Monday. The firm has a 50 day moving average of C$26.20 and a 200 day moving average of C$22.02. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The company has a market capitalization of C$7.00 billion, a price-to-earnings ratio of 22.98 and a beta of 1.23. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$30.64.

Lundin Gold (TSE:LUG) last released 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 company had revenue of C$412.43 million during the quarter. On average, sell-side analysts predict that Lundin Gold will post 2.5618964 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm 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. The ex-dividend date was Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 7.55%. Lundin Gold’s dividend payout ratio (DPR) is currently 84.25%.

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.