Lundin Gold (TSE:LUG) PT Raised to C$32.00 at Cormark

Lundin Gold (TSE:LUG) had its price objective boosted by Cormark from C$27.00 to C$32.00 in a report published on Thursday morning, Marketbeat.com reports. The firm currently has a hold rating on the stock. Cormark also issued estimates for Lundin Gold’s FY2024 earnings at $2.08 EPS.

A number of other brokerages also recently issued reports on LUG. National Bankshares increased their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an outperform rating in a report on Wednesday, August 14th. Jefferies Financial Group lifted their target price on shares of Lundin Gold from C$29.00 to C$35.00 in a report on Friday, October 4th. Raymond James cut 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 note on Monday, September 23rd. CIBC upped their price objective on shares of Lundin Gold from C$28.00 to C$34.00 and gave the company an outperform rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada upped their price target on Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of C$28.33.

Lundin Gold Stock Down 0.2 %

Shares of LUG opened at C$32.67 on Thursday. The stock has a market capitalization of C$7.84 billion, a price-to-earnings ratio of 25.33 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The business’s 50 day simple moving average is C$27.60 and its 200-day simple moving average is C$22.83. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$33.34.

Lundin Gold (TSE:LUG) last released its quarterly earnings data 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 firm had revenue of C$412.43 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, equities analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a dividend of $0.551 per share. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, September 10th. This represents a $2.20 dividend on an annualized basis and a yield of 6.75%. Lundin Gold’s payout ratio is currently 82.95%.

Insider Buying and Selling

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Director Ronald F. Hochstein sold 16,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Insiders sold a total of 72,840 shares of company stock valued at $2,146,122 over the last ninety days. 58.72% of the stock is owned by company 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.