Lundin Gold (TSE:LUG) Stock Rating Lowered by Raymond James

Raymond James lowered shares of Lundin Gold (TSE:LUG) from an outperform rating to a market perform rating in a research note released on Monday, Marketbeat Ratings reports. Raymond James currently has C$29.00 price objective on the stock, up from their prior price objective of C$25.00. Raymond James also issued estimates for Lundin Gold’s Q3 2024 earnings at $0.57 EPS, Q4 2024 earnings at $0.64 EPS, FY2024 earnings at $2.09 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.49 EPS.

A number of other research firms have also weighed in on LUG. CIBC increased their target price on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an outperform rating in a report on Wednesday, September 11th. National Bankshares upped their price target on Lundin Gold from C$30.75 to C$32.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. National Bank Financial upgraded Lundin Gold from a hold rating to a strong-buy rating in a research report on Sunday, July 7th. TD Securities upped their target price on Lundin Gold from C$24.00 to C$27.00 and gave the company a buy rating in a report on Tuesday, July 30th. Finally, Scotiabank raised their price target on Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lundin Gold currently has an average rating of Moderate Buy and an average target price of C$27.42.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$29.93 on Monday. The company has a market capitalization of C$7.18 billion, a P/E ratio of 23.38 and a beta of 1.23. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$30.64. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The stock has a 50 day moving average price of C$26.08 and a two-hundred day moving average price of C$21.87.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. Analysts expect that Lundin Gold will post 2.5613577 earnings per share for the current year.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a $0.551 dividend. This represents a $2.20 annualized dividend and a yield of 7.36%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s dividend payout ratio is presently 85.16%.

Insider Buying and Selling

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. Insiders sold a total of 72,840 shares of company stock worth $2,146,122 in the last three months. 58.75% of the stock is owned by corporate insiders.

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.