Lundin Gold Inc. (TSE:LUG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Lundin Gold Inc. (TSE:LUG) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$27.92.

LUG has been the subject of a number of recent analyst reports. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Jefferies Financial Group upped their price target on shares of Lundin Gold from C$29.00 to C$35.00 in a report on Friday. Scotiabank upped their price target on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. National Bank Financial upgraded shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. Finally, Royal Bank of Canada upped their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th.

Insider Activity at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction dated 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, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. Insiders sold a total of 72,840 shares of company stock valued at $2,146,122 in the last three months. Company insiders own 58.75% of the company’s stock.

Lundin Gold Price Performance

Shares of Lundin Gold stock opened at C$31.17 on Monday. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$31.72. The stock has a market capitalization of C$7.48 billion, a price-to-earnings ratio of 24.54 and a beta of 1.23. The company has a fifty day moving average of C$26.93 and a 200-day moving average of C$22.40. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The firm had revenue of C$412.43 million for the quarter. Equities research analysts expect that Lundin Gold will post 2.5618964 EPS for the current year.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a dividend of $0.551 per share. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s dividend payout ratio (DPR) is 84.25%.

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.