Jefferies Financial Group Increases Lundin Gold (TSE:LUG) Price Target to C$37.00

Lundin Gold (TSE:LUG) had its price target raised by Jefferies Financial Group from C$35.00 to C$37.00 in a research note released on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on LUG. Canaccord Genuity Group boosted their price target on Lundin Gold from C$27.50 to C$28.50 in a report on Tuesday, August 20th. CIBC boosted 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 Bank Financial raised shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. Finally, Scotiabank increased their price objective on Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Stock Performance

Shares of Lundin Gold stock opened at C$34.73 on Thursday. The company’s 50 day moving average price is C$28.65 and its two-hundred day moving average price is C$23.33. The firm has a market capitalization of C$8.34 billion, a P/E ratio of 26.92 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$35.19. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate 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%. On average, equities analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.551 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Tuesday, September 10th. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

Insider Activity

In related news, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total transaction of C$477,891.90. Insiders have sold 72,840 shares of company stock valued at $2,146,122 in the last ninety days. 58.72% 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.