Lundin Gold Inc. (TSE:LUG) Receives Average Rating of “Buy” from Brokerages

Shares of Lundin Gold Inc. (TSE:LUG) have been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$26.55.

Several analysts have recently issued reports on the company. Cormark upped their price target on Lundin Gold from C$26.00 to C$27.00 in a research note on Friday, August 9th. Scotiabank boosted their price objective on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. CIBC boosted their price objective on Lundin Gold from C$25.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. National Bankshares boosted their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Raymond James boosted their price objective on Lundin Gold from C$21.00 to C$25.00 in a research report on Wednesday, July 31st.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 30,100 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$20.27, for a total value of C$610,253.42. Insiders own 58.79% of the company’s stock.

Lundin Gold Stock Performance

LUG opened at C$26.87 on Thursday. The company has a market cap of C$6.45 billion, a PE ratio of 21.16 and a beta of 1.23. The stock has a 50-day moving average of C$24.28 and a 200-day moving average of C$20.79. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$28.26. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The company had revenue of C$412.43 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, equities research analysts forecast that Lundin Gold will post 2.5546059 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th will be issued a $0.551 dividend. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.20 annualized dividend and a yield of 8.20%. Lundin Gold’s dividend payout ratio is 86.61%.

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.