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

Lundin Gold (TSE:LUG) had its price target hoisted by CIBC from C$22.00 to C$25.00 in a report released on Wednesday, BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the stock. Scotiabank lifted their target price on shares of Lundin Gold from C$21.00 to C$23.50 in a research report on Thursday, May 23rd. Jefferies Financial Group boosted their price objective on shares of Lundin Gold from C$23.00 to C$24.00 in a research report on Thursday, June 6th. Cormark lifted their target price on shares of Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. National Bank Financial raised shares of Lundin Gold from a hold rating to a strong-buy rating in a research note on Sunday, July 7th. Finally, Raymond James boosted their price objective on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lundin Gold has an average rating of Moderate Buy and a consensus target price of C$23.68.

Lundin Gold Stock Up 1.2 %

Shares of TSE:LUG opened at C$23.46 on Wednesday. The firm has a fifty day moving average price of C$20.12 and a two-hundred day moving average price of C$18.10. The company has a debt-to-equity ratio of 33.65, a current ratio of 3.08 and a quick ratio of 1.41. Lundin Gold has a one year low of C$14.23 and a one year high of C$23.61. The company has a market cap of C$5.60 billion, a price-to-earnings ratio of 24.44 and a beta of 1.14.

Lundin Gold (TSE:LUG) last announced its quarterly 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). The firm had revenue of C$305.68 million during the quarter. Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%. Analysts anticipate that Lundin Gold will post 1.6959518 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

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

Insider Activity

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