Lundin Gold Inc. (TSE:LUG) Receives C$29.42 Consensus Price Target from Analysts

Lundin Gold Inc. (TSE:LUG) has received an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$29.92.

Several equities research analysts have recently weighed in on LUG shares. Royal Bank of Canada upped their price objective on Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. Scotiabank lifted their price objective on Lundin Gold from C$25.50 to C$31.50 in a report on Thursday. Jefferies Financial Group upped their target price on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. National Bankshares lifted 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 report on Wednesday, August 14th. Finally, Raymond James cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd.

Insider Activity

In other news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. In the last ninety days, insiders sold 72,840 shares of company stock valued at $2,146,122. Company insiders own 58.72% of the company’s stock.

Lundin Gold Stock Up 1.3 %

LUG opened at C$33.30 on Tuesday. The company has a market capitalization of C$7.99 billion, a P/E ratio of 25.81 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The firm’s fifty day moving average price is C$31.68 and its two-hundred day moving average price is C$25.65. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, beating the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The business had revenue of C$440.77 million for the quarter. On average, analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.40%. Lundin Gold’s payout ratio is 82.95%.

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.