Lundin Gold (TSE:LUG) Price Target Raised to C$34.00

Lundin Gold (TSE:LUG) had its price objective increased by CIBC from C$28.00 to C$34.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on LUG. Canaccord Genuity Group raised their price objective on shares of Lundin Gold from C$27.50 to C$28.50 in a research note on Tuesday, August 20th. Raymond James raised their price target on shares of Lundin Gold from C$21.00 to C$25.00 in a research report on Wednesday, July 31st. TD Securities upped their price objective on shares of Lundin Gold from C$24.00 to C$27.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. National Bankshares raised their target price on Lundin Gold from C$30.75 to C$32.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada upped their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of C$27.08.

Lundin Gold Stock Up 2.2 %

TSE:LUG opened at C$29.43 on Wednesday. The firm has a market capitalization of C$7.06 billion, a P/E ratio of 23.17 and a beta of 1.23. The company’s fifty day moving average price is C$24.75 and its 200-day moving average price is C$20.98. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$29.71. 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 released its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$412.43 million for the quarter. As a group, equities research analysts anticipate that Lundin Gold will post 2.5546059 EPS for the current year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th will be given a $0.551 dividend. This represents a $2.20 annualized dividend and a dividend yield of 7.49%. The ex-dividend date of this dividend is Tuesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) is 86.61%.

Insider Buying and Selling

In other 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 news, Senior Officer Chester See sold 30,100 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$20.27, for a total value of C$610,253.42. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. 58.79% of the stock is owned by company insiders.

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.