Canaccord Genuity Group Increases Lundin Gold (TSE:LUG) Price Target to C$23.25

Lundin Gold (TSE:LUG) had its target price upped by Canaccord Genuity Group from C$22.75 to C$23.25 in a report published on Tuesday, BayStreet.CA reports.

Several other research firms have also recently issued reports on LUG. Scotiabank boosted their price objective on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a sector perform rating in a research report on Thursday, March 28th. National Bankshares boosted their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Jefferies Financial Group boosted their price objective on shares of Lundin Gold from C$19.00 to C$23.00 and gave the company a buy rating in a research report on Monday. Cormark boosted their price objective on shares of Lundin Gold from C$22.00 to C$23.00 in a research report on Friday, April 19th. Finally, Raymond James boosted their price target on shares of Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$22.25.

Lundin Gold Price Performance

LUG stock opened at C$19.00 on Tuesday. The stock has a market cap of C$4.52 billion, a PE ratio of 18.57 and a beta of 1.10. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$20.36. The company has a 50-day moving average price of C$17.61 and a 200 day moving average price of C$16.63.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.21 by C($0.02). The company had revenue of C$259.63 million during the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. Equities research analysts anticipate that Lundin Gold will post 1.3629738 earnings per share for the current year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a dividend of $0.269 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 5.66%. Lundin Gold’s dividend payout ratio (DPR) is presently 52.94%.

Insider Buying and Selling

In related news, Director Ronald F. Hochstein sold 100,000 shares of the business’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. 59.46% of the stock is currently owned by company insiders.

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.