Lundin Gold Inc. (TSE:LUG) Receives C$23.68 Average Target Price from Brokerages

Lundin Gold Inc. (TSE:LUG) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat reports. Two 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 company. The average 12 month price objective among brokers that have covered the stock in the last year is C$24.07.

Several research analysts have commented on the stock. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a report on Friday, May 10th. National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. National Bankshares upgraded Lundin Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$25.25 to C$27.75 in a report on Monday, July 8th. Jefferies Financial Group raised their price objective on Lundin Gold from C$24.00 to C$26.00 in a report on Friday, July 12th. Finally, Raymond James upped their target price on Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday, April 23rd.

Lundin Gold Price Performance

Lundin Gold stock opened at C$23.05 on Wednesday. The company has a current ratio of 3.08, a quick ratio of 1.41 and a debt-to-equity ratio of 33.65. The business’s 50 day simple moving average is C$20.59 and its 200 day simple moving average is C$18.42. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$23.83. The company has a market cap of C$5.51 billion, a price-to-earnings ratio of 23.98 and a beta of 1.14.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.01). Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. The firm had revenue of C$305.68 million for the quarter. Sell-side analysts forecast that Lundin Gold will post 1.6959518 EPS for the current year.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 25th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s payout ratio is 57.29%.

Insiders Place Their Bets

In related news, Senior Officer Chester See sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. In related news, Senior Officer Chester See sold 50,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. Also, Director Ian Gibbs sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. In the last 90 days, insiders sold 110,100 shares of company stock worth $2,219,753. 58.99% of the stock is currently 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.