Lundin Gold (TSE:LUG) Price Target Raised to C$108.00

Lundin Gold (TSE:LUG) had its target price upped by Canaccord Genuity Group from C$103.00 to C$108.00 in a report released on Wednesday,BayStreet.CA reports.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group raised their target price on shares of Lundin Gold from C$82.00 to C$97.00 in a research note on Friday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. TD Securities cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating and lifted their target price for the company from C$65.00 to C$73.00 in a research note on Wednesday, July 16th. BMO Capital Markets upped their target price on shares of Lundin Gold from C$104.00 to C$108.00 in a report on Monday, November 10th. Finally, CIBC increased their price target on Lundin Gold from C$85.00 to C$116.00 in a research note on Friday, October 10th. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of C$76.29.

Lundin Gold Stock Performance

TSE LUG opened at C$113.90 on Wednesday. The business’s fifty day moving average is C$95.92 and its 200 day moving average is C$78.87. Lundin Gold has a fifty-two week low of C$29.88 and a fifty-two week high of C$117.26. The company has a market capitalization of C$27.49 billion, a PE ratio of 40.25 and a beta of 1.35.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Friday, November 7th. The company reported C$0.86 EPS for the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.The business had revenue of C$622.58 million during the quarter. On average, sell-side analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 25th were given a $0.675 dividend. This is a boost from Lundin Gold’s previous quarterly dividend of $0.21. This represents a $2.70 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, September 10th. Lundin Gold’s dividend payout ratio (DPR) is presently 61.48%.

Insiders Place Their Bets

In other news, insider Sheila Margaret Colman sold 14,600 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total transaction of C$1,189,754.00. Following the sale, the insider directly owned 37,068 shares in the company, valued at approximately C$3,020,671.32. This represents a 28.26% decrease in their position. Also, insider Chester See sold 20,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the completion of the transaction, the insider directly owned 132,571 shares of the company’s stock, valued at approximately C$11,043,164.30. The trade was a 13.11% decrease in their position. 58.72% of the stock is owned by corporate insiders.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.