Lundin Gold (TSE:LUG) Price Target Raised to C$38.00 at TD Securities

Lundin Gold (TSE:LUG) had its price target boosted by TD Securities from C$27.00 to C$38.00 in a research report sent to investors on Friday morning, BayStreet.CA reports.

Other analysts have also issued research reports about the company. National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. Canaccord Genuity Group upped their target price on shares of Lundin Gold from C$27.50 to C$28.50 in a research note on Tuesday, August 20th. CIBC raised their price target on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Jefferies Financial Group upped their price objective on shares of Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Scotiabank lifted their target price on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Trading Up 4.7 %

Shares of TSE:LUG opened at C$34.73 on Friday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.19. The firm has a fifty day moving average price of C$28.65 and a 200 day moving average price of C$23.27. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The stock has a market capitalization of C$8.34 billion, a PE ratio of 26.92 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$412.43 million for the quarter. Analysts expect that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.35%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s payout ratio is presently 82.95%.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Insiders sold 72,840 shares of company stock worth $2,146,122 in the last 90 days. 58.72% of the stock is owned by company 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.