Lundin Gold (TSE:LUG) Stock Price Expected to Rise, Scotiabank Analyst Says

Lundin Gold (TSE:LUGFree Report) had its price objective upped by Scotiabank from C$30.00 to C$31.50 in a research note released on Wednesday,BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group cut shares of Lundin Gold from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. TD Securities lifted their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Desjardins raised Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, CIBC lifted their price objective on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$33.30.

Read Our Latest Stock Analysis on Lundin Gold

Lundin Gold Stock Down 1.2 %

TSE:LUG opened at C$33.89 on Wednesday. The stock’s fifty day moving average price is C$32.11 and its two-hundred day moving average price is C$29.09. The company has a market cap of C$8.13 billion, a price-to-earnings ratio of 26.27 and a beta of 1.23. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUGGet Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.60 by C$0.16. The business had revenue of C$440.77 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. On average, analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

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

Insider Transactions at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction that occurred 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. 58.72% of the stock is currently owned by insiders.

About Lundin Gold

(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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Analyst Recommendations for Lundin Gold (TSE:LUG)

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