Cormark Raises Lundin Gold (TSE:LUG) Price Target to C$32.00

by · The Cerbat Gem

Lundin Gold (TSE:LUG – Free Report) had its price objective lifted by Cormark from C$27.00 to C$32.00 in a research report released on Thursday morning, MarketBeat reports. The brokerage currently has a hold rating on the stock. Cormark also issued estimates for Lundin Gold’s FY2024 earnings at $2.08 EPS.

Several other analysts have also commented on the stock. CIBC increased their target price on shares of Lundin Gold from C$28.00 to C$34.00 and gave the company an outperform rating in a research note on Wednesday, September 11th. TD Securities upped their price objective on shares of Lundin Gold from C$24.00 to C$27.00 and gave the company a buy rating in a research note on Tuesday, July 30th. Jefferies Financial Group upped their price objective on shares of Lundin Gold from C$29.00 to C$35.00 in a research note on Friday, October 4th. National Bank Financial upgraded shares of Lundin Gold from a hold rating to a strong-buy rating in a research note on Sunday, July 7th. Finally, Scotiabank upped their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lundin Gold presently has an average rating of Moderate Buy and an average target price of C$28.33.

Read Our Latest Stock Report on LUG

Lundin Gold Price Performance

TSE LUG opened at C$32.67 on Thursday. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$33.34. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The stock has a market cap of C$7.84 billion, a price-to-earnings ratio of 25.33 and a beta of 1.23. The company has a 50-day moving average price of C$27.60 and a two-hundred day moving average price of C$22.80.

Lundin Gold (TSE:LUG – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a dividend of $0.551 per share. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend was Tuesday, September 10th. Lundin Gold’s dividend payout ratio is 82.95%.

Insider Activity

In related news, Director Ronald F. Hochstein sold 16,200 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. In related news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction that occurred 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 over the last ninety days. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Company Profile

(Get Free Report)

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.

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