CIBC Boosts Lundin Gold (TSE:LUG) Price Target to C$28.00

Lundin Gold (TSE:LUG) had its target price hoisted by CIBC from C$25.00 to C$28.00 in a research report report published on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on LUG. National Bankshares lifted their target price on shares of 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. Canaccord Genuity Group lifted their target price on Lundin Gold from C$27.50 to C$28.50 in a research note on Tuesday, August 20th. Raymond James increased their price target on shares of Lundin Gold from C$21.00 to C$25.00 in a research report on Wednesday, July 31st. Cormark boosted their price target on shares of Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. Finally, Jefferies Financial Group increased their price objective on Lundin Gold from C$24.00 to C$26.00 in a report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Buy and an average price target of C$26.27.

Lundin Gold Stock Down 3.9 %

TSE LUG opened at C$25.86 on Wednesday. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$28.26. The company has a market capitalization of C$6.20 billion, a P/E ratio of 20.36 and a beta of 1.23. The company’s 50 day simple moving average is C$24.14 and its 200 day simple moving average is C$20.68. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The company had revenue of C$412.43 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. Equities research analysts expect 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. Stockholders of record on Wednesday, September 25th will be given a $0.551 dividend. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 10th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.52%. Lundin Gold’s dividend payout ratio (DPR) is currently 86.61%.

Insiders Place Their Bets

In related 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 transaction of C$610,253.42. Company insiders own 58.79% of the company’s stock.

About Lundin Gold

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.