Royal Bank of Canada Boosts Lundin Gold (TSE:LUG) Price Target to C$27.00

Lundin Gold (TSE:LUG) had its price objective increased by Royal Bank of Canada from C$25.00 to C$27.00 in a report issued on Tuesday morning, BayStreet.CA reports.

A number of other research analysts have also weighed in on LUG. Cormark raised their target price on shares of Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. Scotiabank lifted their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Raymond James upped their target price on shares of Lundin Gold from C$21.00 to C$25.00 in a research report on Wednesday, July 31st. National Bankshares increased their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an outperform rating in a report on Wednesday, August 14th. Finally, National Bank Financial raised Lundin Gold from a hold rating to a strong-buy rating in a research note on Sunday, July 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lundin Gold presently has a consensus rating of Buy and an average price target of C$27.08.

Lundin Gold Trading Up 2.1 %

Shares of Lundin Gold stock opened at C$28.79 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The firm has a market cap of C$6.91 billion, a price-to-earnings ratio of 22.67 and a beta of 1.23. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$29.03. The business has a 50-day moving average price of C$24.58 and a 200-day moving average price of C$20.92.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Lundin Gold will post 2.5546059 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th will be paid a $0.551 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.20 annualized dividend and a yield of 7.66%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) is presently 86.61%.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. In related news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$20.27, for a total transaction of C$610,253.42. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’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 own 58.79% of the company’s stock.

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.