Lundin Gold (TSE:LUG) Reaches New 1-Year High Following Analyst Upgrade

Lundin Gold Inc. (TSE:LUG) reached a new 52-week high on Wednesday after Raymond James raised their price target on the stock from C$21.00 to C$25.00. The company traded as high as C$23.90 and last traded at C$23.85, with a volume of 131206 shares. The stock had previously closed at C$22.79.

LUG has been the subject of a number of other research reports. Cormark boosted their price target on Lundin Gold from C$23.00 to C$25.00 in a research report on Wednesday, July 10th. Veritas Investment Research boosted their price target on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Jefferies Financial Group boosted their price target on Lundin Gold from C$24.00 to C$26.00 in a research note on Friday, July 12th. TD Securities upped their price objective on Lundin Gold from C$24.00 to C$27.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, National Bankshares upgraded Lundin Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$25.25 to C$27.75 in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.65.

Insider Activity at Lundin Gold

In related news, Senior Officer Chester See sold 30,100 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$20.27, for a total transaction of C$610,253.42. Also, Director Ian Gibbs sold 30,000 shares of Lundin Gold stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total transaction of C$597,000.00. Over the last 90 days, insiders sold 110,100 shares of company stock worth $2,219,753. Company insiders own 58.99% of the company’s stock.

Lundin Gold Stock Up 4.9 %

The firm’s 50-day simple moving average is C$20.90 and its 200 day simple moving average is C$18.72. The company has a market cap of C$5.71 billion, a P/E ratio of 24.57 and a beta of 1.14. The company has a debt-to-equity ratio of 33.65, a quick ratio of 1.41 and a current ratio of 3.08.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.01). Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%. The firm had revenue of C$305.68 million during the quarter. On average, research analysts forecast that Lundin Gold Inc. will post 1.6959518 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. Lundin Gold’s dividend payout ratio is 57.29%.

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.