Lundin Gold (TSE:LUG) Price Target Raised to C$108.00 at Canaccord Genuity Group

Lundin Gold (TSE:LUG) had its price target increased by Canaccord Genuity Group from C$103.00 to C$108.00 in a research report released on Wednesday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on LUG. Jefferies Financial Group upped their price objective on Lundin Gold from C$82.00 to C$97.00 in a research note on Friday, October 17th. JPMorgan Chase & Co. boosted their target price on Lundin Gold from C$16.00 to C$28.00 in a report on Friday, October 10th. BMO Capital Markets upped their price target on Lundin Gold from C$104.00 to C$108.00 in a research note on Monday. TD Securities lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating and lifted their price objective for the company from C$65.00 to C$73.00 in a research report on Wednesday, July 16th. Finally, CIBC upped their price objective on shares of Lundin Gold from C$85.00 to C$116.00 in a research report on Friday, October 10th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of C$76.29.

Lundin Gold Trading Down 2.0%

Shares of Lundin Gold stock traded down C$2.29 during trading on Wednesday, reaching C$112.43. The company’s stock had a trading volume of 1,129,324 shares, compared to its average volume of 816,065. The company has a 50-day moving average price of C$95.10 and a two-hundred day moving average price of C$78.23. Lundin Gold has a fifty-two week low of C$29.42 and a fifty-two week high of C$117.26. The firm has a market cap of C$27.14 billion, a PE ratio of 39.73 and a beta of 1.35.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data on Friday, November 7th. The company reported C$0.86 earnings per share (EPS) for the quarter. Lundin Gold had a net margin of 29.56% and a return on equity of 29.88%. The company had revenue of C$622.58 million for the quarter. On average, analysts predict that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 25th were paid a dividend of $0.675 per share. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $2.70 annualized dividend and a dividend yield of 2.4%. Lundin Gold’s dividend payout ratio is presently 61.48%.

Insider Buying and Selling

In related news, insider Chester See sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of C$83.30, for a total value of C$1,666,000.00. Following the completion of the transaction, the insider directly owned 132,571 shares of the company’s stock, valued at C$11,043,164.30. This trade represents a 13.11% decrease in their position. Also, insider Sheila Margaret Colman sold 14,600 shares of Lundin Gold stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$81.49, for a total value of C$1,189,754.00. Following the transaction, the insider directly owned 37,068 shares of the company’s stock, valued at approximately C$3,020,671.32. This represents a 28.26% decrease in their ownership of the stock. Corporate insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.