Jefferies Financial Group Boosts Lundin Gold (TSE:LUG) Price Target to C$35.00

Lundin Gold (TSE:LUG) had its price target boosted by Jefferies Financial Group from C$29.00 to C$35.00 in a research note issued to investors on Friday, BayStreet.CA reports.

Other analysts have also issued research reports about the company. TD Securities upped their target price on Lundin Gold from C$24.00 to C$27.00 and gave the stock a buy rating in a report on Tuesday, July 30th. National Bank Financial raised Lundin Gold from a hold rating to a strong-buy rating in a research report on Sunday, July 7th. Royal Bank of Canada upped their target price on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. Cormark increased their price target on Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th. Finally, National Bankshares increased their price target 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. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Gold currently has an average rating of Moderate Buy and an average price target of C$27.92.

Lundin Gold Price Performance

Shares of Lundin Gold stock opened at C$31.17 on Friday. The stock’s 50-day simple moving average is C$26.93 and its 200-day simple moving average is C$22.46. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$31.72. The company has a market capitalization of C$7.48 billion, a price-to-earnings ratio of 24.54 and a beta of 1.23. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.07). Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The company had revenue of C$412.43 million for the quarter. As a group, analysts expect that Lundin Gold will post 2.5618964 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were issued a $0.551 dividend. This represents a $2.20 annualized dividend and a yield of 7.07%. The ex-dividend date of this dividend was Tuesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) is 84.25%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. In related news, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Also, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In the last quarter, insiders sold 72,840 shares of company stock worth $2,146,122. Insiders own 58.75% of the company’s stock.

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.