Lundin Gold (TSE:LUG) Upgraded at Cormark

Cormark upgraded shares of Lundin Gold (TSE:LUG - Free Report) from a market perform rating to a buy rating in a research report report published on Friday morning,BayStreet.CA reports. They currently have C$38.00 target price on the stock, up from their previous target price of C$35.00.

Several other research firms have also recently commented on LUG. Canaccord Genuity Group cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. CIBC increased their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. TD Securities boosted their price target on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Jefferies Financial Group cut Lundin Gold from a "buy" rating to a "hold" rating and cut their price target for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their price objective on Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$33.15.

Lundin Gold Stock Performance

Shares of Lundin Gold stock traded up C$0.97 during trading on Friday, reaching C$33.84. The company's stock had a trading volume of 448,073 shares, compared to its average volume of 311,323. Lundin Gold has a one year low of C$14.23 and a one year 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 has a market cap of C$8.12 billion, a price-to-earnings ratio of 26.23 and a beta of 1.23. The business's fifty day moving average price is C$32.00 and its 200-day moving average price is C$28.64.

Lundin Gold (TSE:LUG - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping the consensus estimate 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 for the quarter. As a group, equities research analysts predict that Lundin Gold will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

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

Insider Buying and Selling

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction 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 currently owned by corporate 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.