Canaccord Genuity Group Lowers Lundin Gold (TSE:LUG) to Hold

Canaccord Genuity Group downgraded shares of Lundin Gold (TSE:LUG) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

LUG has been the topic of a number of other reports. Royal Bank of Canada increased their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Scotiabank increased their price target on Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Jefferies Financial Group increased their price target on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. Finally, National Bank Financial upgraded Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$29.42.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$34.67 on Tuesday. The business’s 50 day simple moving average is C$29.49 and its 200 day simple moving average is C$23.74. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89. The stock has a market capitalization of C$8.32 billion, a PE ratio of 26.88 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The company had revenue of C$412.43 million during the quarter. As a group, research analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a $0.551 dividend. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insider Activity at Lundin Gold

In related news, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction 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 Terrence Smith sold 25,740 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. In the last three months, insiders sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is owned by 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.