Lundin Gold (TSE:LUG) Given New C$41.00 Price Target at CIBC

Lundin Gold (TSE:LUG) had its target price hoisted by CIBC from C$34.00 to C$41.00 in a report issued on Monday morning,BayStreet.CA reports.

A number of other brokerages also recently weighed in on LUG. Raymond James downgraded Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. 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. Cormark raised their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a report on Thursday, October 10th. National Bankshares upped their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Scotiabank increased their price objective on shares of Lundin Gold from C$25.50 to C$31.50 in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$30.50.

Lundin Gold Trading Up 1.8 %

TSE:LUG opened at C$33.16 on Monday. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The firm’s fifty day moving average is C$32.07 and its 200-day moving average is C$26.28. The firm has a market cap of C$7.96 billion, a P/E ratio of 25.71 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating analysts’ consensus estimates of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The business had revenue of C$440.77 million for the quarter. Equities analysts expect 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. Shareholders of record on Friday, December 20th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 82.95%.

Insider Transactions at Lundin Gold

In related news, Senior Officer Chester See sold 14,900 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. Insiders sold a total of 72,840 shares of company stock valued at $2,146,122 over the last ninety days. 58.72% of the stock is currently 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.