Analysts Set Lundin Gold Inc. (TSE:LUG) Target Price at C$32.55

Shares of Lundin Gold Inc. (TSE:LUG) have been given an average recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$33.15.

A number of analysts have recently issued reports on LUG shares. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. TD Securities raised their target price on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada raised their price objective on Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th.

Insider Buying and Selling

In related news, Director Pablo Mir sold 11,535 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Stock Performance

TSE:LUG opened at C$33.84 on Wednesday. The firm’s fifty day simple moving average is C$32.01 and its 200 day simple moving average is C$28.73. The company has a current ratio of 1.98, a quick ratio of 1.41 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$35.89. The firm has a market capitalization of C$8.12 billion, a price-to-earnings ratio of 26.23 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping the consensus estimate of C$0.60 by C$0.16. The company had revenue of C$440.77 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, equities research analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. Lundin Gold’s dividend payout ratio (DPR) 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.