Scotiabank Has Lowered Expectations for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its price objective reduced by Scotiabank from C$31.50 to C$30.00 in a research note released on Tuesday morning,BayStreet.CA reports.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their price target on Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Cormark increased their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. National Bankshares lifted their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, TD Securities upped their price objective on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus price target of C$30.63.

Lundin Gold Stock Performance

Shares of LUG opened at C$31.92 on Tuesday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89. The company’s 50 day simple moving average is C$32.79 and its 200 day simple moving average is C$27.03. The company has a market capitalization of C$7.66 billion, a price-to-earnings ratio of 24.74 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. The company 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%. On average, sell-side analysts predict that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 20th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.51%. Lundin Gold’s payout ratio is 82.95%.

Insider Buying and Selling

In related news, Senior Officer Terrence Smith sold 25,740 shares of Lundin Gold stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. In the last three months, insiders sold 56,840 shares of company stock valued at $1,686,209. Company insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

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.