Lundin Gold Inc. (TSE:LUG) Receives C$22.90 Average Price Target from Brokerages

Lundin Gold Inc. (TSE:LUG) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$22.90.

A number of brokerages recently commented on LUG. National Bankshares increased their price target on Lundin Gold from C$24.75 to C$25.25 in a report on Wednesday, May 15th. Scotiabank increased their price target on Lundin Gold from C$21.00 to C$23.50 in a research report on Thursday, May 23rd. Cormark increased their price objective on Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Veritas Investment Research increased their price target on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Finally, Raymond James raised their price objective on Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday, April 23rd.

Lundin Gold Price Performance

Shares of Lundin Gold stock opened at C$20.21 on Friday. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$20.82. The stock has a market capitalization of C$4.83 billion, a P/E ratio of 21.05 and a beta of 1.14. The company has a current ratio of 3.08, a quick ratio of 1.41 and a debt-to-equity ratio of 33.65. The business’s fifty day moving average price is C$19.61 and its 200 day moving average price is C$17.77.

Lundin Gold (TSE:LUG) last issued its earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.01). Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. The company had revenue of C$305.68 million during the quarter. As a group, research analysts anticipate that Lundin Gold will post 1.6959518 earnings per share for the current year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 25th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.98%. Lundin Gold’s dividend payout ratio is 57.29%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 30,100 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$20.27, for a total value of C$610,253.42. In related news, Director Ian Gibbs sold 30,000 shares of Lundin Gold stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. Also, Senior Officer Chester See sold 30,100 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$20.27, for a total transaction of C$610,253.42. Insiders have sold a total of 110,100 shares of company stock worth $2,219,753 over the last three months. Corporate insiders own 58.99% of the company’s stock.

Lundin Gold Company Profile

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.