Lundin Gold Inc. (TSE:LUG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Lundin Gold Inc. (TSE:LUG) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$29.42.

LUG has been the subject of a number of recent analyst reports. Scotiabank boosted their target price on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. TD Securities boosted their target price on Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. National Bankshares boosted their target price on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$25.00 to C$29.00 in a research report on Monday, September 23rd.

Insider Activity at Lundin Gold

In related news, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. In related news, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. Also, Senior Officer Terrence Smith sold 25,740 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. In the last ninety days, insiders sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is owned by company insiders.

Lundin Gold Price Performance

LUG opened at C$33.67 on Friday. The stock has a 50-day moving average price of C$30.09 and a 200-day moving average price of C$24.21. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market cap of C$8.08 billion, a PE ratio of 26.10 and a beta of 1.23. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Sell-side analysts predict that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a dividend of $0.551 per share. The ex-dividend date was Tuesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.55%. Lundin Gold’s payout ratio is 82.95%.

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.