Lundin Gold (TSE:LUG) Price Target Raised to C$25.00

Lundin Gold (TSE:LUG) had its price target boosted by Cormark from C$23.00 to C$25.00 in a report published on Wednesday, BayStreet.CA reports. Cormark also issued estimates for Lundin Gold’s FY2024 earnings at $1.80 EPS and FY2025 earnings at $1.47 EPS.

Several other equities research analysts also recently commented on the company. Desjardins raised Lundin Gold to a moderate buy rating in a report on Friday, May 10th. Veritas Investment Research upped their price target on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Scotiabank upped their price objective on Lundin Gold from C$21.00 to C$23.50 in a research report on Thursday, May 23rd. CIBC upped their price target on Lundin Gold from C$22.00 to C$25.00 in a research report on Wednesday. Finally, Canaccord Genuity Group upped their price target on Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold presently has a consensus rating of Moderate Buy and a consensus target price of C$23.68.

Lundin Gold Trading Up 1.2 %

TSE LUG opened at C$23.46 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 3.08 and a debt-to-equity ratio of 33.65. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$23.61. The firm has a market capitalization of C$5.60 billion, a PE ratio of 24.44 and a beta of 1.14. The stock’s 50 day moving average is C$20.12 and its 200 day moving average is C$18.10.

Lundin Gold (TSE:LUG) last released its earnings results on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter, missing the consensus estimate of C$0.33 by C($0.01). Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. The company had revenue of C$305.68 million during the quarter. Research analysts forecast that Lundin Gold will post 1.6959518 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 25th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s payout ratio is presently 57.29%.

Insider Activity at Lundin Gold

In other news, Senior Officer Chester See sold 50,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total value of C$1,012,500.00. In other news, Senior Officer Chester See sold 50,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total value of C$1,012,500.00. Also, Director Ian Gibbs sold 30,000 shares of Lundin Gold stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. Over the last three months, insiders sold 110,100 shares of company stock valued at $2,219,753. Insiders own 58.99% 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.