Lundin Gold (TSE:LUG) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Lundin Gold (TSE:LUG) from an outperform rating to a market perform rating in a research note released on Tuesday, MarketBeat reports.

Several other research firms also recently weighed in on LUG. Royal Bank of Canada lifted their target price on shares of Lundin Gold from C$27.00 to C$31.00 in a research report on Friday, December 6th. Scotiabank lowered their price objective on shares of Lundin Gold from C$31.50 to C$30.00 in a research report on Tuesday. Jefferies Financial Group boosted their target price on shares of Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Finally, CIBC upped their price target on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$30.63.

Lundin Gold Stock Performance

LUG opened at C$31.92 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The firm has a market cap of C$7.66 billion, a PE ratio of 24.74 and a beta of 1.23. The business has a fifty day simple moving average of C$32.79 and a 200-day simple moving average of C$27.03. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating the consensus estimate of C$0.60 by C$0.16. The business had revenue of C$440.77 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, equities analysts predict that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.51%. Lundin Gold’s dividend payout ratio (DPR) is currently 82.95%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Insiders have sold a total of 56,840 shares of company stock valued at $1,686,209 in the last three months. Insiders own 58.72% 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.