Analysts Set Lundin Gold Inc. (TSE:LUG) Price Target at C$27.42

Shares of Lundin Gold Inc. (TSE:LUG) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$27.42.

Several research analysts have recently issued reports on LUG shares. Royal Bank of Canada upped their price objective on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. Canaccord Genuity Group upped their price target on Lundin Gold from C$27.50 to C$28.50 in a report on Tuesday, August 20th. CIBC raised 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 report on Wednesday, September 11th. Scotiabank upped their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Finally, Cormark increased their target price on shares of Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th.

Lundin Gold Stock Up 0.1 %

Shares of TSE:LUG opened at C$29.59 on Monday. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$30.64. The firm’s 50 day moving average price is C$26.45 and its 200 day moving average price is C$22.19. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a market cap of C$7.10 billion, a price-to-earnings ratio of 23.30 and a beta of 1.23.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. As a group, equities research analysts predict that Lundin Gold will post 2.5618964 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were paid a dividend of $0.551 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, September 10th. This represents a $2.20 annualized dividend and a dividend yield of 7.45%. Lundin Gold’s dividend payout ratio is 84.25%.

Insider Buying and Selling

In other news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In related news, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Insiders have sold a total of 72,840 shares of company stock valued at $2,146,122 over the last quarter. 58.75% 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.