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 sent to investors 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.

Several other equities research analysts also recently commented on LUG. Cormark increased their price objective on Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Scotiabank increased their price objective on Lundin Gold from C$21.00 to C$23.50 in a report on Thursday, May 23rd. Desjardins raised Lundin Gold to a moderate buy rating in a report on Friday, May 10th. Canaccord Genuity Group raised their price target on Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday, April 23rd. Finally, Veritas Investment Research raised their price target on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Gold has a consensus rating of Moderate Buy and an average price target of C$23.50.

Get Our Latest Analysis on Lundin Gold

Lundin Gold Trading Up 2.5 %

TSE:LUG opened at C$22.55 on Friday. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$22.66. The company has a quick ratio of 1.41, a current ratio of 3.08 and a debt-to-equity ratio of 33.65. The business has a 50 day moving average price of C$19.92 and a two-hundred day moving average price of C$18.02. The company has a market cap of C$5.39 billion, a P/E ratio of 23.49 and a beta of 1.14.

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

Lundin Gold Cuts Dividend

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

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 50,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. In related news, 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 value of C$597,000.00. Also, Senior Officer Chester See sold 50,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total value of C$1,012,500.00. Insiders have sold 110,100 shares of company stock worth $2,219,753 in the last 90 days. Company insiders own 58.99% of the company’s stock.

About Lundin Gold

(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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