Lundin Gold Inc. (TSE:LUG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Lundin Gold Inc. (TSE:LUG) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$22.25.

A number of brokerages have recently commented on LUG. Raymond James lifted their price target on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday, April 23rd. Veritas Investment Research lifted their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Scotiabank increased their price target on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a report on Thursday, March 28th. Cormark lifted their price objective on Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Finally, Canaccord Genuity Group upped their price objective on Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday, April 23rd.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. Corporate insiders own 59.03% of the company’s stock.

Lundin Gold Price Performance

LUG opened at C$18.87 on Friday. The firm has a market cap of C$4.51 billion, a PE ratio of 18.50 and a beta of 1.14. The stock has a 50-day moving average price of C$18.36 and a 200-day moving average price of C$16.83. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$20.36. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The firm had revenue of C$259.63 million for the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. Sell-side analysts predict that Lundin Gold will post 1.5100888 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.269 per share. This represents a $1.08 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio is presently 52.94%.

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.