Scotiabank Cuts Lundin Gold (TSE:LUG) Price Target to C$30.00

Lundin Gold (TSE:LUG) had its target price decreased by Scotiabank from C$31.50 to C$30.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

A number of other brokerages also recently issued reports on LUG. National Bankshares increased their price target on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. CIBC raised their target price on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Finally, Royal Bank of Canada lifted their price target on Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.71.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$33.75 on Tuesday. The company has a market capitalization of C$8.10 billion, a P/E ratio of 26.16 and a beta of 1.23. The business’s 50 day moving average is C$32.68 and its two-hundred day moving average is C$26.90. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$35.89.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping 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 return on equity of 22.88% and a net margin of 24.30%. Analysts expect that Lundin Gold will post 2.5603448 EPS for the current fiscal 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 paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold’s dividend payout ratio (DPR) is currently 82.95%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of Lundin Gold stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value 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 shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Over the last 90 days, insiders have sold 72,840 shares of company stock valued at $2,146,122. 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.