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

Shares of Lundin Gold Inc. (TSE:LUG) have received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$27.92.

A number of analysts recently commented on LUG shares. Royal Bank of Canada boosted their target price on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Scotiabank increased their price objective on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. TD Securities lifted their target price on Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Raymond James downgraded Lundin Gold from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Finally, Cormark increased their price target on Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th.

Insider Activity

In related news, Senior Officer Chester See sold 14,900 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In related news, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Insiders sold a total of 72,840 shares of company stock worth $2,146,122 in the last three months. 58.75% of the stock is owned by insiders.

Lundin Gold Stock Performance

LUG opened at C$31.17 on Monday. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$31.72. The company has a market capitalization of C$7.48 billion, a price-to-earnings ratio of 24.54 and a beta of 1.23. The business has a 50 day moving average price of C$26.93 and a two-hundred day moving average price of C$22.46. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The firm had revenue of C$412.43 million for the quarter. Research analysts predict that Lundin Gold will post 2.5618964 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a $0.551 dividend. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 7.07%. The ex-dividend date of this dividend was Tuesday, September 10th. Lundin Gold’s dividend payout ratio is presently 84.25%.

About Lundin Gold

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.