Lundin Gold (TSE:LUG) Rating Increased 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 released 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.

Several other brokerages have also issued reports on LUG. National Bankshares upgraded Lundin Gold from a sector perform rating to an outperform rating and lifted their price target for the company from C$25.25 to C$27.75 in a research note on Monday. Jefferies Financial Group lifted their price target on Lundin Gold from C$23.00 to C$24.00 in a research note on Thursday, June 6th. Scotiabank lifted their price target on Lundin Gold from C$21.00 to C$23.50 in a research note on Thursday, May 23rd. Raymond James raised their price objective on Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group raised their price objective on Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of C$23.15.

Lundin Gold Price Performance

Lundin Gold stock opened at C$22.00 on Friday. Lundin Gold has a one year low of C$14.23 and a one year high of C$22.17. The stock’s fifty day moving average price is C$19.85 and its two-hundred day moving average price is C$17.99. 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 firm has a market cap of C$5.26 billion, a PE ratio of 22.92 and a beta of 1.14.

Lundin Gold (TSE:LUG) last issued 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). Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%. The business had revenue of C$305.68 million during the quarter. As a group, research analysts expect that Lundin Gold will post 1.6959518 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 25th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.82%. The ex-dividend date was Monday, June 10th. Lundin Gold’s payout ratio is presently 57.29%.

Insiders Place Their Bets

In other Lundin Gold news, Director Ian Gibbs sold 30,000 shares of Lundin Gold 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. In other Lundin Gold news, Senior Officer Chester See sold 50,000 shares of Lundin Gold stock in a transaction dated 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. Also, Director Ian Gibbs sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. In the last three months, insiders have sold 110,100 shares of company stock valued at $2,219,753. 58.99% of the stock is currently owned by company insiders.

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.