Lundin Gold (TSE:LUG) Lowered to Hold Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Lundin Gold (TSE:LUG) from a buy rating to a hold rating in a report published on Wednesday,BayStreet.CA reports. Jefferies Financial Group currently has C$36.00 price target on the stock, down from their previous price target of C$37.00.

A number of other equities analysts also recently commented on the stock. TD Securities raised their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. National Bankshares raised their target price on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Royal Bank of Canada raised their target price on shares of Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th. BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$32.55.

Lundin Gold Stock Down 1.7 %

Shares of LUG opened at C$31.38 on Wednesday. The firm has a market cap of C$7.53 billion, a PE ratio of 24.33 and a beta of 1.23. The company’s fifty day moving average is C$32.81 and its two-hundred day moving average is C$27.06. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

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

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 82.95%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. Insiders sold a total of 56,840 shares of company stock valued at $1,686,209 in the last ninety days. Corporate insiders own 58.72% 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.