Lundin Gold (TSE:LUG) Upgraded by Cormark to “Buy”

Cormark upgraded shares of Lundin Gold (TSE:LUGFree Report) from a market perform rating to a buy rating in a report issued on Friday, BayStreet.CA reports. The brokerage currently has C$22.00 target price on the stock, up from their previous target price of C$21.00.

Other analysts have also recently issued research reports about the company. Raymond James set a C$17.50 price objective on Lundin Gold and gave the company an outperform rating in a research note on Thursday, January 25th. National Bankshares upped their price objective on Lundin Gold from C$19.00 to C$20.00 and gave the company a sector perform rating in a research note on Wednesday, February 28th. Scotiabank upped their price objective on Lundin Gold from C$20.00 to C$21.00 and gave the company a sector perform rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group set a C$19.00 price objective on Lundin Gold and gave the company a buy rating in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold currently has a consensus rating of Moderate Buy and an average price target of C$20.95.

Read Our Latest Report on LUG

Lundin Gold Trading Down 1.8 %

Shares of LUG opened at C$18.44 on Friday. The company has a market capitalization of C$4.39 billion, a P/E ratio of 18.08 and a beta of 1.10. Lundin Gold has a one year low of C$14.23 and a one year high of C$19.57. The company has a debt-to-equity ratio of 31.98, a quick ratio of 1.41 and a current ratio of 2.86. The stock has a 50-day moving average price of C$17.18 and a 200 day moving average price of C$16.45.

Lundin Gold (TSE:LUGGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The business had revenue of C$259.63 million during the quarter. Sell-side analysts forecast that Lundin Gold will post 1.3629738 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.269 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s payout ratio is 52.94%.

Insider Activity at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of the firm’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 owned by insiders.

Lundin Gold Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lundin Gold (TSE:LUG)

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