Lundin Gold (TSE:LUG) Price Target Raised to C$25.00

Lundin Gold (TSE:LUG) had its price objective hoisted by Cormark from C$23.00 to C$25.00 in a research note released on Wednesday morning, BayStreet.CA reports. Cormark also issued estimates for Lundin Gold’s FY2024 earnings at $1.80 EPS and FY2025 earnings at $1.47 EPS.

LUG has been the topic of several other reports. Veritas Investment Research lifted their price objective on shares of Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Raymond James lifted their price objective on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday, April 23rd. Jefferies Financial Group lifted their target price on shares of Lundin Gold from C$23.00 to C$24.00 in a research report on Thursday, June 6th. Canaccord Genuity Group lifted their target price on shares of Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday, April 23rd. Finally, CIBC raised their price target on shares of Lundin Gold from C$22.00 to C$25.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lundin Gold has a consensus rating of Moderate Buy and an average price target of C$23.68.

Lundin Gold Price Performance

Shares of LUG stock opened at C$23.46 on Wednesday. The firm has a market cap of C$5.60 billion, a P/E ratio of 24.44 and a beta of 1.14. The company has a debt-to-equity ratio of 33.65, a current ratio of 3.08 and a quick ratio of 1.41. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$23.61. The firm has a fifty day moving average of C$20.12 and a two-hundred day moving average of C$18.10.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.01). Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. The business had revenue of C$305.68 million during the quarter. As a group, research analysts anticipate that Lundin Gold will post 1.6959518 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s payout ratio is 57.29%.

Insider Transactions at Lundin Gold

In other news, Director Ian Gibbs sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. In related news, Director Ian Gibbs sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total transaction of C$597,000.00. Also, Senior Officer Chester See sold 50,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. Over the last three months, insiders sold 110,100 shares of company stock worth $2,219,753. 58.99% of the stock is owned by insiders.

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.