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

Shares of Lundin Gold Inc. (TSE:LUG) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, three 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 issued a report on the stock in the last year is C$32.55.

LUG has been the topic of a number of analyst reports. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Cormark lifted their target price on Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Scotiabank lowered their target price on Lundin Gold from C$31.50 to C$30.00 in a research note on Tuesday, December 10th. CIBC lifted their target price on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd.

Lundin Gold Price Performance

Shares of Lundin Gold stock opened at C$31.71 on Friday. The company’s 50-day moving average price is C$32.82 and its two-hundred day moving average price is C$27.23. The stock has a market cap of C$7.61 billion, a PE ratio of 24.58 and a beta of 1.23. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, sell-side analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 2.52%. Lundin Gold’s dividend payout ratio (DPR) is currently 82.95%.

Insider Buying and Selling

In other news, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of the company’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. Corporate insiders own 58.72% of the company’s stock.

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.