Lundin Gold Inc. (TSE:LUG) Receives C$35.45 Average Price Target from Brokerages

Lundin Gold Inc. (TSE:LUG) has received a consensus recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$35.45.

Several analysts have recently commented on LUG shares. TD Securities raised their price objective on shares of Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. CIBC cut shares of Lundin Gold from an “outperform” rating to a “neutral” rating and raised their price target for the stock from C$41.00 to C$44.00 in a report on Thursday, March 20th. Cormark lowered shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and reduced their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Finally, BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th.

Lundin Gold Stock Down 0.1 %

LUG opened at C$43.49 on Monday. Lundin Gold has a twelve month low of C$18.08 and a twelve month high of C$45.82. The company has a fifty day moving average of C$39.65 and a 200-day moving average of C$34.59. The stock has a market cap of C$7.42 billion, a PE ratio of 24.41 and a beta of 1.23.

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were given a dividend of $0.43 per share. The ex-dividend date was Tuesday, March 11th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a yield of 3.95%. Lundin Gold’s payout ratio is presently 60.06%.

Insider Activity

In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Also, Senior Officer Chester See sold 5,800 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total transaction of C$237,321.50. In the last quarter, insiders have sold 144,685 shares of company stock worth $5,854,985. 58.72% of the stock is currently owned by corporate insiders.

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.