Lundin Gold (TSE:LUG) Raised to “Strong-Buy” at National Bank Financial

National Bank Financial upgraded shares of Lundin Gold (TSE:LUGFree Report) from a hold rating to a strong-buy rating in a research report released on Sunday, Zacks.com reports. National Bank Financial also issued estimates for Lundin Gold’s FY2024 earnings at $2.37 EPS, FY2025 earnings at $2.66 EPS and FY2026 earnings at $2.24 EPS.

LUG has been the subject of a number of other research reports. Desjardins raised shares of Lundin Gold to a moderate buy rating in a research report on Friday, May 10th. Jefferies Financial Group increased their price objective on shares of Lundin Gold from C$23.00 to C$24.00 in a research report on Thursday, June 6th. Canaccord Genuity Group increased their price objective on shares of Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday, April 23rd. Raymond James increased their target price on shares of Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday, April 23rd. Finally, Scotiabank increased their target price on shares of Lundin Gold from C$21.00 to C$23.50 in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lundin Gold currently has an average rating of Moderate Buy and an average target price of C$23.50.

View Our Latest Research Report on LUG

Lundin Gold Stock Performance

Lundin Gold stock opened at C$22.55 on Friday. The firm has a 50 day simple moving average of C$19.92 and a 200-day simple moving average of C$18.02. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$22.66. The company has a debt-to-equity ratio of 33.65, a current ratio of 3.08 and a quick ratio of 1.41. The stock has a market cap of C$5.39 billion, a price-to-earnings ratio of 23.49 and a beta of 1.14.

Lundin Gold (TSE:LUGGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.01). Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%. The firm had revenue of C$305.68 million during the quarter. On average, analysts expect that Lundin Gold will post 1.6959518 EPS for the current year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.77%. Lundin Gold’s payout ratio is 57.29%.

Insider Activity

In related news, Director Ian Gibbs sold 30,000 shares of Lundin Gold stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total transaction of C$597,000.00. In related news, Senior Officer Chester See sold 50,000 shares of Lundin Gold stock in a transaction on Friday, May 10th. The shares were sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. Also, Director Ian Gibbs sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. In the last three months, insiders have sold 110,100 shares of company stock worth $2,219,753. 58.99% of the stock is currently owned by corporate 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.

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Analyst Recommendations for Lundin Gold (TSE:LUG)

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