Lundin Gold (TSE:LUG) Announces Quarterly Earnings Results

Lundin Gold (TSE:LUG) announced its quarterly earnings results on Thursday. The company reported C$0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.60 by C$0.16, reports. The business had revenue of C$440.77 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%.

Lundin Gold Trading Up 2.4 %

Shares of Lundin Gold stock opened at C$32.67 on Friday. The stock has a market cap of C$7.84 billion, a PE ratio of 25.33 and a beta of 1.23. The firm has a fifty day moving average price of C$30.83 and a 200 day moving average price of C$24.83. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.45%. Lundin Gold’s payout ratio is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of Lundin Gold stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Over the last three months, insiders have sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LUG shares. Scotiabank lifted their target price on Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Jefferies Financial Group raised their price target on shares of Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Securities boosted their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. Finally, National Bankshares increased their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$29.42.

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.