Lundin Gold (TSE:LUG) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets lowered shares of Lundin Gold (TSE:LUG) from an outperform rating to a market perform rating in a report published on Tuesday morning, Marketbeat Ratings reports.

A number of other equities research analysts also recently weighed in on LUG. Desjardins raised Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. CIBC lifted their price objective on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group raised their target price on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their price target for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$30.63.

Lundin Gold Stock Down 3.2 %

LUG opened at C$31.92 on Tuesday. The business has a 50 day moving average of C$32.79 and a 200-day moving average of C$27.03. The stock 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 current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.89.

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, beating analysts’ consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. As a group, sell-side analysts anticipate that Lundin Gold will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be given a $0.20 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.51%. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

Insiders Place Their Bets

In related news, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Also, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Over the last ninety days, insiders have sold 56,840 shares of company stock valued at $1,686,209. 58.72% of the stock is currently owned by 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.