Lundin Gold (TSE:LUG) Price Target Raised to C$21.00

Lundin Gold (TSE:LUG) had its price objective raised by Raymond James from C$17.50 to C$21.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. Raymond James also issued estimates for Lundin Gold’s Q2 2024 earnings at $0.38 EPS.

Other equities research analysts have also recently issued research reports about the company. Scotiabank raised their price objective on Lundin Gold from C$20.00 to C$21.00 and gave the company a sector perform rating in a research note on Thursday, March 28th. Cormark lifted their target price on Lundin Gold from C$22.00 to C$23.00 in a research report on Friday, April 19th. Veritas Investment Research lifted their target price on Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Jefferies Financial Group lifted their target price on Lundin Gold from C$19.00 to C$23.00 and gave the company a buy rating in a research report on Monday. Finally, National Bankshares lifted their target price on Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lundin Gold has an average rating of Moderate Buy and an average price target of C$22.25.

Lundin Gold Trading Up 2.5 %

Shares of Lundin Gold stock opened at C$19.35 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. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$20.36. The stock has a 50 day moving average price of C$17.78 and a two-hundred day moving average price of C$16.67. The stock has a market capitalization of C$4.61 billion, a PE ratio of 19.04 and a beta of 1.10.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The firm had revenue of C$259.63 million during 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. Shareholders of record on Friday, March 8th were given a $0.269 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 annualized dividend and a yield of 5.56%. Lundin Gold’s dividend payout ratio is currently 52.94%.

Insiders Place Their Bets

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was 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.