Lundin Gold Inc. (TSE:LUG) Given Average Rating of "Moderate Buy" by Analysts

Lundin Gold Inc. (TSE:LUG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$29.42.

LUG has been the subject of a number of research reports. Jefferies Financial Group raised 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 lifted 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. Scotiabank increased their price objective on Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. CIBC lifted their target price 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. Finally, Desjardins upgraded Lundin Gold to a "moderate buy" rating in a research report on Thursday, October 31st.

Insider Activity

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the business's stock in a transaction on 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, Director Ronald F. Hochstein sold 16,200 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. Over the last 90 days, insiders have sold 72,840 shares of company stock worth $2,146,122. Company insiders own 58.72% of the company's stock.

Lundin Gold Price Performance

Shares of TSE LUG traded up C$0.59 during midday trading on Tuesday, reaching C$31.85. 294,081 shares of the company were exchanged, compared to its average volume of 276,423. The stock's 50-day moving average price is C$31.19 and its 200-day moving average price is C$25.26. The stock has a market cap of C$7.64 billion, a P/E ratio of 24.23 and a beta of 1.23. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89.

Lundin Gold (TSE:LUG - Get Free Report) last issued its 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. The business had revenue of C$440.77 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. On average, sell-side analysts anticipate that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 2.51%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold's payout ratio is 82.95%.

About Lundin Gold

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.