CIBC Increases Lundin Gold (TSE:LUG) Price Target to C$28.00

Lundin Gold (TSE:LUG) had its target price lifted by CIBC from C$25.00 to C$28.00 in a research note published on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Desjardins raised shares of Lundin Gold to a moderate buy rating in a research note on Friday, May 10th. Canaccord Genuity Group raised their price target on Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. National Bank Financial upgraded Lundin Gold from a hold rating to a strong-buy rating in a report on Sunday, July 7th. Raymond James increased their target price on Lundin Gold from C$21.00 to C$25.00 in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their target price on Lundin Gold from C$24.00 to C$26.00 in a research report on Friday, July 12th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Buy and an average price target of C$26.27.

Lundin Gold Trading Down 3.9 %

LUG stock opened at C$25.86 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$28.26. The company has a market cap of C$6.20 billion, a P/E ratio of 20.36 and a beta of 1.23. The business has a fifty day moving average of C$24.14 and a 200-day moving average of C$20.64.

Lundin Gold (TSE:LUG) last released its earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (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 business had revenue of C$412.43 million for the quarter. As a group, equities research analysts expect that Lundin Gold will post 2.5546059 EPS for the current year.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th will be given a $0.551 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a dividend yield of 8.52%. Lundin Gold’s payout ratio is currently 86.61%.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. 58.79% of the stock is owned by company insiders.

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.