Lundin Gold (TSE:LUG) Price Target Raised to C$31.50 at Scotiabank

Lundin Gold (TSE:LUG) had its price target increased by Scotiabank from C$25.50 to C$31.50 in a research note issued to investors on Thursday,BayStreet.CA reports.

LUG has been the topic of several other research reports. CIBC lifted their price target on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Jefferies Financial Group boosted their price objective on shares of Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Cormark boosted their price objective 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. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.92.

Lundin Gold Trading Up 1.7 %

Shares of LUG opened at C$32.88 on Thursday. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. 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 firm’s fifty day moving average is C$31.50 and its two-hundred day moving average is C$25.54. The stock has a market cap of C$7.89 billion, a PE ratio of 25.32 and a beta of 1.23.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The business had revenue of C$440.77 million for the quarter. Research analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold’s dividend payout ratio (DPR) is 82.95%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the business’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. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Insiders sold 72,840 shares of company stock valued at $2,146,122 over the last three months. 58.72% of the stock is owned by corporate 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.