Lundin Gold (TSE:LUG) Upgraded by Cormark to Buy

Cormark upgraded shares of Lundin Gold (TSE:LUG) from a market perform rating to a buy rating in a research report released on Friday morning, BayStreet.CA reports. Cormark currently has C$22.00 target price on the stock, up from their previous target price of C$21.00.

A number of other research analysts have also recently issued reports on the stock. Raymond James set a C$17.50 price objective on shares of Lundin Gold and gave the company an outperform rating in a report on Thursday, January 25th. Jefferies Financial Group set a C$19.00 price objective on shares of Lundin Gold and gave the company a buy rating in a report on Thursday, February 29th. Scotiabank boosted their price objective on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a sector perform rating in a report on Thursday, March 28th. Finally, National Bankshares boosted their price objective on shares of Lundin Gold from C$19.00 to C$20.00 and gave the company a sector perform rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$20.95.

Lundin Gold Trading Down 1.8 %

LUG opened at C$18.44 on Friday. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$19.57. The firm has a 50-day moving average price of C$17.18 and a two-hundred day moving average price of C$16.44. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The stock has a market capitalization of C$4.39 billion, a PE ratio of 18.08 and a beta of 1.10.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing the consensus estimate of C$0.21 by C($0.02). Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%. The business had revenue of C$259.63 million for the quarter. As a group, equities analysts anticipate that Lundin Gold will post 1.3629738 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.269 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio is presently 52.94%.

Insider Transactions at Lundin Gold

In other news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total value of C$1,673,330.00. 59.46% 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.