Lundin Gold (TSE:LUG) Cut to Hold at Jefferies Financial Group

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

A number of other research analysts have also recently issued reports on the stock. Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday. Cormark increased their target price on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a report on Thursday, October 10th. TD Securities increased their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Finally, National Bankshares increased 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 report on Wednesday, August 14th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$32.55.

Lundin Gold Trading Down 1.7 %

TSE LUG opened at C$31.38 on Wednesday. The stock has a market capitalization of C$7.53 billion, a P/E ratio of 24.33 and a beta of 1.23. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The firm has a 50-day moving average price of C$32.81 and a 200 day moving average price of C$27.06. 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 posted its quarterly earnings results 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. The firm had revenue of C$440.77 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. Equities research analysts expect that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 20th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.55%. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insider Activity

In related news, Director Ronald F. Hochstein sold 16,200 shares of the firm’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 transaction of C$477,891.90. Also, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold 56,840 shares of company stock worth $1,686,209 over the last ninety days. 58.72% of the stock is currently owned by insiders.

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.