Canaccord Genuity Group Raises Lundin Gold (TSE:LUG) Price Target to C$23.25

Lundin Gold (TSE:LUG) had its price target hoisted by Canaccord Genuity Group from C$22.75 to C$23.25 in a research report released on Tuesday, BayStreet.CA reports.

A number of other research analysts have also weighed in on the stock. Raymond James raised their target price on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday. Scotiabank raised their target price on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a sector perform rating in a research note on Thursday, March 28th. Jefferies Financial Group raised their target price on shares of Lundin Gold from C$19.00 to C$23.00 and gave the stock a buy rating in a research note on Monday. Veritas Investment Research raised their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Finally, Cormark raised their target price on shares of Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$22.25.

Lundin Gold Trading Up 2.5 %

LUG stock opened at C$19.35 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$20.36. The stock has a market cap of C$4.61 billion, a price-to-earnings ratio of 19.04 and a beta of 1.10. The business’s 50-day moving average is C$17.78 and its 200 day moving average is C$16.67.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.21 by C($0.02). Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%. The firm had revenue of C$259.63 million during the quarter. On average, sell-side analysts anticipate that Lundin Gold will post 1.3629738 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.269 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s payout ratio is presently 52.94%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total value of C$1,673,330.00. 59.46% of the stock is owned by corporate 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.