Lundin Gold (TSE:LUG) Price Target Raised to C$31.00

Lundin Gold (TSE:LUG) had its price objective hoisted by Royal Bank of Canada from C$27.00 to C$31.00 in a research report report published on Friday morning,BayStreet.CA reports.

Several other equities research analysts also recently commented on LUG. Desjardins raised Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. TD Securities increased their price objective on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Jefferies Financial Group increased their target price on Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CIBC lifted their target price on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Finally, Cormark upped their price objective on Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Four research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.83.

Lundin Gold Stock Down 0.3 %

LUG opened at C$34.64 on Friday. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89. The company has a market cap of C$8.31 billion, a price-to-earnings ratio of 26.85 and a beta of 1.23. 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 business’s fifty day moving average is C$32.46 and its two-hundred day moving average is C$26.69.

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

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 20th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 2.31%. Lundin Gold’s payout ratio is currently 82.95%.

Insider Transactions at Lundin Gold

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction 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. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction 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 the last 90 days, insiders sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is owned by company insiders.

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.