Lundin Gold (TSE:LUG) Price Target Raised to C$31.50 at Scotiabank

Lundin Gold (TSE:LUG) had its target price upped by Scotiabank from C$25.50 to C$31.50 in a research report sent to investors on Thursday morning,BayStreet.CA reports.

Several other analysts also recently issued reports on LUG. Royal Bank of Canada lifted their price target on Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Cormark raised their price target on shares of 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 boosted their price objective 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. Finally, Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus target price of C$29.92.

Lundin Gold Trading Up 1.3 %

TSE:LUG opened at C$33.30 on Thursday. 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 business’s 50-day simple moving average is C$31.68 and its 200-day simple moving average 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. The stock has a market capitalization of C$7.99 billion, a PE ratio of 25.81 and a beta of 1.23.

Lundin Gold (TSE:LUG) last released its quarterly 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 company had revenue of C$440.77 million during the quarter. Sell-side analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid 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 dividend yield of 2.40%. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insider Activity

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on 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 Sheila Margaret Colman sold 16,000 shares of Lundin Gold 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. In the last ninety days, insiders have sold 72,840 shares of company stock valued at $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.