Lundin Gold (TSE:LUG) Price Target Raised to C$21.00 at Raymond James

Lundin Gold (TSE:LUG) had its price objective lifted by Raymond James from C$17.50 to C$21.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for Lundin Gold’s Q1 2024 earnings at $0.29 EPS, Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.52 EPS and FY2024 earnings at $1.70 EPS.

Several other analysts also recently commented on LUG. Scotiabank upped their price target 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. Veritas Investment Research upped their price target on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Jefferies Financial Group increased 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 note on Monday, April 22nd. Cormark upped their target price on shares of Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Finally, National Bankshares increased their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of C$22.25.

Lundin Gold Stock Performance

TSE:LUG opened at C$19.39 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The company’s 50-day moving average price is C$17.86 and its 200-day moving average price is C$16.69. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$20.36. The company has a market cap of C$4.62 billion, a P/E ratio of 19.01 and a beta of 1.10.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The business 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%. On average, sell-side analysts forecast that Lundin Gold will post 1.3629738 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.269 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.55%. Lundin Gold’s dividend payout ratio is 52.94%.

Insider Activity at Lundin Gold

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 stock was sold at an average price of C$16.73, for a total value 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.