Lundin Gold (TSE:LUG) Downgraded by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Lundin Gold (TSE:LUG) from a strong-buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

Several other research analysts also recently weighed in on LUG. Cormark increased their price target on Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. CIBC increased their target price on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. National Bankshares boosted their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Raymond James cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their target price on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Four investment 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 company. According to data from MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and an average target price of C$29.42.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$34.19 on Tuesday. 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 cap of C$8.21 billion, a price-to-earnings ratio of 26.50 and a beta of 1.23. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The firm’s 50-day simple moving average is C$29.67 and its two-hundred day simple moving average is C$23.82.

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. As a group, equities analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a dividend of $0.551 per share. This is a positive change 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 annualized dividend and a yield of 6.45%. Lundin Gold’s dividend payout ratio (DPR) is currently 82.95%.

Insider Activity

In related news, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. In related 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 Chester See sold 14,900 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In the last 90 days, insiders sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is currently owned by insiders.

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.