Brokerages Set Lundin Gold Inc. (TSE:LUG) Target Price at C$32.55

Lundin Gold Inc. (TSE:LUG) has been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$33.15.

A number of research analysts recently commented on LUG shares. Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. CIBC increased their price target on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Finally, Cormark raised shares of Lundin Gold from a “market perform” rating to a “buy” rating and lifted their target price for the company from C$35.00 to C$38.00 in a report on Friday.

Insider Buying and Selling at Lundin Gold

In related news, Director Pablo Mir sold 11,535 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is owned by insiders.

Lundin Gold Price Performance

Lundin Gold stock opened at C$33.84 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The company has a fifty day simple moving average of C$32.00 and a 200-day simple moving average of C$28.64. The stock has a market cap of C$8.12 billion, a P/E ratio of 26.23 and a beta of 1.23. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$35.89.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$440.77 million during the quarter. Equities analysts expect that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

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

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.