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

National Bank Financial upgraded shares of Lundin Gold (TSE:LUG) from a hold rating to a strong-buy rating in a research report sent to investors on Sunday morning, 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.

Other equities research analysts have also issued reports about the company. Cormark upped their price target on Lundin Gold from C$22.00 to C$23.00 in a research report on Friday, April 19th. Scotiabank upped their price target on Lundin Gold from C$21.00 to C$23.50 in a research report on Thursday, May 23rd. Raymond James upped their price target on Lundin Gold from C$17.50 to C$21.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group upped their price target on Lundin Gold from C$23.00 to C$24.00 in a research report on Thursday, June 6th. Finally, National Bankshares raised Lundin Gold from a sector perform rating to an outperform rating and increased their target price for the stock from C$25.25 to C$27.75 in a research report on Monday. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lundin Gold currently has an average rating of Moderate Buy and an average target price of C$23.15.

Lundin Gold Stock Performance

Lundin Gold stock opened at C$22.00 on Friday. The stock has a market cap of C$5.26 billion, a P/E ratio of 22.92 and a beta of 1.14. The company has a current ratio of 3.08, a quick ratio of 1.41 and a debt-to-equity ratio of 33.65. The stock has a 50 day moving average of C$19.85 and a 200-day moving average of C$17.99. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$22.17.

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

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Monday, June 10th. Lundin Gold’s dividend payout ratio (DPR) is 57.29%.

Insider Activity

In other news, 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 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 dated Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. Also, Senior Officer Chester See sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of C$20.25, for a total value of C$1,012,500.00. Over the last ninety days, insiders have sold 110,100 shares of company stock valued at $2,219,753. Company insiders own 58.99% 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.