Lundin Gold (TSE:LUG) Price Target Raised to C$23.25 at Canaccord Genuity Group

Lundin Gold (TSE:LUG) had its price target hoisted by Canaccord Genuity Group from C$22.75 to C$23.25 in a research note published on Tuesday, BayStreet.CA reports.

Several other research firms also recently weighed in on LUG. Cormark boosted their price target on shares of Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. Scotiabank boosted their price target on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a sector perform rating in a research note on Thursday, March 28th. Jefferies Financial Group boosted their price objective on shares of Lundin Gold from C$19.00 to C$23.00 and gave the company a buy rating in a research report on Monday. National Bankshares boosted their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Finally, Raymond James boosted their price objective on shares of Lundin Gold from C$17.50 to C$21.00 in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lundin Gold currently has a consensus rating of Moderate Buy and an average price target of C$22.25.

Lundin Gold Stock Performance

TSE LUG opened at C$19.00 on Tuesday. The company has a debt-to-equity ratio of 31.98, a quick ratio of 1.41 and a current ratio of 2.86. The company has a market capitalization of C$4.52 billion, a P/E ratio of 18.57 and a beta of 1.10. The company has a fifty day moving average of C$17.61 and a 200-day moving average of C$16.63. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$20.36.

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

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.269 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 5.66%. 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 company’s stock in a transaction that occurred 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. Insiders own 59.46% of the company’s stock.

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.