Raymond James Raises Lundin Gold (TSE:LUG) Price Target to C$25.00

Lundin Gold (TSE:LUG) had its target price lifted by Raymond James from C$21.00 to C$25.00 in a report issued on Wednesday morning, BayStreet.CA reports. Raymond James also issued estimates for Lundin Gold’s Q2 2024 earnings at $0.54 EPS, Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $1.96 EPS, Q1 2025 earnings at $0.46 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.86 EPS.

Several other research firms have also weighed in on LUG. Canaccord Genuity Group boosted their price objective on shares of Lundin Gold from C$25.00 to C$27.50 in a research note on Tuesday, July 23rd. Scotiabank upped their price target on shares of Lundin Gold from C$21.00 to C$23.50 in a research note on Thursday, May 23rd. CIBC upped their price target on shares of Lundin Gold from C$22.00 to C$25.00 in a research note on Wednesday, July 10th. Jefferies Financial Group upped their price target on shares of Lundin Gold from C$24.00 to C$26.00 in a research note on Friday, July 12th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lundin Gold currently has a consensus rating of Moderate Buy and a consensus target price of C$24.65.

Lundin Gold Stock Up 1.0 %

Lundin Gold stock opened at C$23.97 on Wednesday. The firm has a market capitalization of C$5.73 billion, a PE ratio of 24.97 and a beta of 1.14. The company’s 50-day moving average is C$21.14 and its 200-day moving average is C$18.85. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$24.66. The company has a debt-to-equity ratio of 33.65, a current ratio of 3.08 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Wednesday, May 8th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.01). The firm had revenue of C$305.68 million for the quarter. Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. Sell-side analysts anticipate that Lundin Gold will post 1.6959518 earnings per share for the current year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 25th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. Lundin Gold’s payout ratio is presently 57.29%.

Insiders Place Their Bets

In other news, Director Ian Gibbs sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total transaction of C$597,000.00. 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 shares were sold at an average price of C$20.27, for a total transaction of C$610,253.42. Also, Director Ian Gibbs sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. Insiders have sold a total of 110,100 shares of company stock worth $2,219,753 in the last quarter. Corporate insiders own 58.99% 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.