Lundin Gold (TSE:LUG) Price Target Raised to C$21.00 at Raymond James

Lundin Gold (TSE:LUG) had its price target boosted by Raymond James from C$17.50 to C$21.00 in a research report report published on Tuesday, BayStreet.CA reports. Raymond James also issued estimates for Lundin Gold’s Q1 2024 earnings at $0.29 EPS, Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.52 EPS and FY2024 earnings at $1.70 EPS.

Several other research analysts also recently issued reports on the stock. Scotiabank upped 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 upped 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 report on Monday, April 22nd. National Bankshares increased their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Cormark raised their price target on shares of Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. Finally, Veritas Investment Research raised their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$22.25.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$19.39 on Tuesday. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$20.36. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The stock has a market capitalization of C$4.62 billion, a P/E ratio of 19.01 and a beta of 1.10. The firm’s 50 day moving average is C$17.86 and its 200 day moving average is C$16.69.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$259.63 million during the quarter. On average, sell-side analysts anticipate that Lundin Gold will post 1.3629738 earnings per share for the current 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 $0.269 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s dividend payout ratio is currently 52.94%.

Insider Buying and Selling

In related news, Director Ronald F. Hochstein sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. 59.46% of the stock is currently owned by company 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.