Scotiabank Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its price objective upped by Scotiabank from C$25.50 to C$31.50 in a research note released on Thursday morning,BayStreet.CA reports.

LUG has been the subject of several other research reports. Jefferies Financial Group increased their price objective on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Cormark upped their target price on 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 upped their target price on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Finally, Royal Bank of Canada upped their target price on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$29.92.

Lundin Gold Price Performance

Lundin Gold stock opened at C$32.88 on Thursday. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The business has a 50 day simple moving average of C$31.50 and a 200-day simple moving average of C$25.54. The stock has a market capitalization of C$7.89 billion, a PE ratio of 25.32 and a beta of 1.23.

Lundin Gold (TSE:LUG) last released its quarterly earnings data 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 return on equity of 22.88% and a net margin of 24.30%. Equities analysts predict that Lundin Gold will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Thursday, December 5th. Lundin Gold’s payout ratio is currently 82.95%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction dated 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 Chester See sold 14,900 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value 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. Insiders own 58.72% of the company’s stock.

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.