Analysts Set Lundin Gold Inc. (TSE:LUG) PT at C$29.42

Lundin Gold Inc. (TSE:LUG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research 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 12 month price target among analysts that have updated their coverage on the stock in the last year is C$29.42.

A number of research analysts have recently commented on the stock. Raymond James cut shares of Lundin Gold from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Canaccord Genuity Group lowered shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday. National Bankshares raised their target price on Lundin Gold from C$30.75 to C$32.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. Scotiabank lifted their target price on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Finally, Cormark increased their price target on Lundin Gold from C$27.00 to C$32.00 and gave the company a "hold" rating in a report on Thursday, October 10th.

Lundin Gold Stock Down 1.4 %

TSE:LUG traded down C$0.48 during mid-day trading on Friday, hitting C$34.19. The company had a trading volume of 263,774 shares, compared to its average volume of 273,970. The business has a fifty day simple moving average of C$29.49 and a 200-day simple moving average of C$23.74. The firm has a market capitalization of C$8.21 billion, a price-to-earnings ratio of 26.88 and a beta of 1.23. Lundin Gold has a 1 year low of C$14.23 and a 1 year 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 - Get Free Report) 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). The company had revenue of C$412.43 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. Equities analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a $0.551 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Tuesday, September 10th. This is an increase from Lundin Gold's previous quarterly dividend of $0.10. Lundin Gold's payout ratio is currently 82.95%.

Insider Activity

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the firm'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. In related news, Senior Officer Chester See sold 14,900 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business'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. Over the last ninety days, insiders sold 72,840 shares of company stock valued at $2,146,122. 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.