Veritas Investment Research Raises Lundin Gold (TSE:LUG) Price Target to C$28.00

Lundin Gold (TSE:LUG - Free Report) had its target price raised by Veritas Investment Research from C$20.90 to C$28.00 in a research report report published on Friday, BayStreet.CA reports.

LUG has been the topic of a number of other research reports. Raymond James set a C$17.50 price target on Lundin Gold and gave the company an outperform rating in a report on Thursday, January 25th. Jefferies Financial Group set a C$19.00 price target on Lundin Gold and gave the company a buy rating in a report on Thursday, February 29th. Scotiabank boosted their target price on Lundin Gold from C$20.00 to C$21.00 and gave the stock a sector perform rating in a report on Thursday, March 28th. Cormark raised Lundin Gold from a market perform rating to a buy rating and boosted their target price for the stock from C$21.00 to C$22.00 in a report on Friday. Finally, National Bankshares boosted their target price on Lundin Gold from C$19.00 to C$20.00 and gave the stock a sector perform rating in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Lundin Gold has a consensus rating of Moderate Buy and a consensus target price of C$20.95.

Lundin Gold Stock Performance

TSE LUG traded down C$0.34 during trading hours on Friday, reaching C$18.44. The company's stock had a trading volume of 578,322 shares, compared to its average volume of 269,761. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The business has a 50-day simple moving average of C$17.14 and a 200 day simple moving average of C$16.42. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$19.57. The stock has a market cap of C$4.39 billion, a PE ratio of 18.42 and a beta of 1.10.

Lundin Gold (TSE:LUG - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share for the quarter, missing analysts' consensus estimates of C$0.21 by C($0.02). The business had revenue of C$259.63 million for the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. Equities research analysts predict that Lundin Gold will post 1.3629738 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.269 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 annualized dividend and a yield of 5.84%. Lundin Gold's dividend payout ratio (DPR) is 52.94%.

Insiders Place Their Bets

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of Lundin Gold stock in a transaction that occurred on Monday, March 4th. The shares were 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 currently owned by company insiders.

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.