Lundin Gold (TSE:LUG) Upgraded to Buy at Cormark

Cormark upgraded shares of Lundin Gold (TSE:LUG) from a market perform rating to a buy rating in a research report sent to investors on Friday morning,BayStreet.CA reports. Cormark currently has C$38.00 price objective on the stock, up from their previous price objective of C$35.00.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Lundin Gold from a “buy” rating to a “hold” rating and decreased their target price for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. BMO Capital Markets lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Scotiabank cut their target price on shares of Lundin Gold from C$31.50 to C$30.00 in a research note on Tuesday, December 10th. Finally, Raymond James downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating and upped their target price for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$33.15.

Lundin Gold Stock Up 3.0 %

Shares of TSE LUG opened at C$33.84 on Friday. The company’s 50-day simple moving average is C$32.00 and its 200-day simple moving average is C$28.64. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The firm has a market cap of C$8.12 billion, a price-to-earnings ratio of 26.23 and a beta of 1.23. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. Equities analysts predict that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Insiders own 58.72% 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.