Cormark Raises Lundin Gold (TSE:LUG) Price Target to C$23.00

Lundin Gold (TSE:LUG) had its target price lifted by Cormark from C$22.00 to C$23.00 in a research note released on Friday, BayStreet.CA reports.

Several other equities analysts have also recently commented on LUG. Scotiabank raised their price target on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a sector perform rating in a research report on Thursday, March 28th. Veritas Investment Research upped their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. National Bankshares upped their price objective on Lundin Gold from C$24.50 to C$24.75 in a research note on Friday. Jefferies Financial Group set a C$19.00 price objective on shares of Lundin Gold and gave the stock a buy rating in a report on Thursday, February 29th. Finally, Raymond James set a C$17.50 target price on shares of Lundin Gold and gave the stock an outperform rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Lundin Gold presently has an average rating of Moderate Buy and an average price target of C$21.84.

Lundin Gold Stock Performance

Lundin Gold stock opened at C$18.91 on Friday. The company has a debt-to-equity ratio of 31.98, a quick ratio of 1.41 and a current ratio of 2.86. Lundin Gold has a one year low of C$14.23 and a one year high of C$20.36. The stock’s 50 day moving average price is C$17.54 and its 200 day moving average price is C$16.60. The firm has a market capitalization of C$4.50 billion, a PE ratio of 18.54 and a beta of 1.10.

Lundin Gold (TSE:LUG) last released its quarterly earnings results 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). Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%. The firm had revenue of C$259.63 million for the quarter. As a group, sell-side analysts expect that Lundin Gold will post 1.3629738 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.269 per share. This represents a $1.08 annualized dividend and a yield of 5.69%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s payout ratio is currently 52.94%.

Insider Transactions at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$16.73, for a total value of C$1,673,330.00. Company insiders own 59.46% of the company’s stock.

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.