Lundin Gold (TSE:LUG) Upgraded at Cormark

Cormark upgraded shares of Lundin Gold (TSE:LUG) from a market perform rating to a buy rating in a research report report published on Friday morning,BayStreet.CA reports. The brokerage currently has C$38.00 target price on the stock, up from their prior target price of C$35.00.

A number of other brokerages have also recently issued reports on LUG. Scotiabank cut their target price on shares of Lundin Gold from C$31.50 to C$30.00 in a research report on Tuesday, December 10th. CIBC increased their target price on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. TD Securities boosted their price target on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Desjardins raised Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$33.15.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$33.84 on Friday. The stock’s 50-day moving average price is C$32.01 and its 200 day moving average price is C$28.73. 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 capitalization of C$8.12 billion, a PE ratio of 26.23 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.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$440.77 million during the quarter. As a group, equities research analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 2.36%. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insiders Place Their Bets

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is owned by company 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.