Lundin Gold (LUG) – Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for Lundin Gold (TSE: LUG):

• 9/23/2024 – Lundin Gold was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. They now have a C$29.00 price target on the stock, up previously from C$25.00.
• 9/11/2024 – Lundin Gold had its price target raised by analysts at CIBC from C$28.00 to C$34.00. They now have an “outperform” rating on the stock.
• 9/10/2024 – Lundin Gold had its price target raised by analysts at Royal Bank of Canada from C$25.00 to C$27.00.
• 9/9/2024 – Lundin Gold had its price target raised by analysts at Jefferies Financial Group Inc. from C$26.00 to C$29.00.
• 9/4/2024 – Lundin Gold had its price target raised by analysts at CIBC from C$25.00 to C$28.00. They now have an “outperform” rating on the stock.
• 8/20/2024 – Lundin Gold had its price target raised by analysts at Canaccord Genuity Group Inc. from C$27.50 to C$28.50.
• 8/19/2024 – Lundin Gold had its price target raised by analysts at Scotiabank from C$23.50 to C$25.50.
• 8/14/2024 – Lundin Gold had its price target raised by analysts at National Bankshares, Inc. from C$30.75 to C$32.00. They now have an “outperform” rating on the stock.
• 8/9/2024 – Lundin Gold had its price target raised by analysts at Cormark from C$26.00 to C$27.00.
• 7/31/2024 – Lundin Gold had its price target raised by analysts at Raymond James from C$21.00 to C$25.00.
• 7/30/2024 – Lundin Gold had its price target raised by analysts at TD Securities from C$24.00 to C$27.00. They now have a “buy” rating on the stock.

Lundin Gold Price Performance

LUG stock traded down C$0.06 during trading on Tuesday, hitting C$29.41. The company had a trading volume of 347,307 shares, compared to its average volume of 268,965. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The company has a fifty day moving average price of C$25.71 and a two-hundred day moving average price of C$21.67. Lundin Gold Inc. has a fifty-two week low of C$14.23 and a fifty-two week high of C$30.64. The company has a market cap of C$7.05 billion, a P/E ratio of 22.98 and a beta of 1.23.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Equities research analysts expect that Lundin Gold Inc. will post 2.5613577 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th will be issued a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 7.49%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, September 10th. Lundin Gold’s dividend payout ratio (DPR) is currently 85.16%.

Insider Buying and Selling at Lundin Gold

In other news, 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 value of C$477,891.90. In related news, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. In the last quarter, insiders sold 72,840 shares of company stock worth $2,146,122. 58.75% of the stock is currently owned by insiders.

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.