Lundin Gold (TSE:LUG) Price Target Raised to C$42.00

Lundin Gold (TSE:LUG) had its price objective increased by Royal Bank of Canada from C$37.00 to C$42.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Several other brokerages also recently weighed in on LUG. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. Scotiabank upped their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. CIBC lowered Lundin Gold from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from C$41.00 to C$44.00 in a report on Thursday, March 20th. Cibc World Mkts downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, Desjardins lifted their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Eight equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$38.18.

Lundin Gold Stock Down 8.0 %

LUG opened at C$41.75 on Friday. Lundin Gold has a 52 week low of C$18.08 and a 52 week high of C$45.82. The business has a 50 day moving average price of C$40.55 and a two-hundred day moving average price of C$35.18. The company has a market cap of C$7.13 billion, a PE ratio of 23.44 and a beta of 1.23.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.12%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, March 11th. Lundin Gold’s dividend payout ratio (DPR) is 60.06%.

Insider Buying and Selling

In related news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Also, Senior Officer Chester See sold 5,800 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$40.92, for a total transaction of C$237,321.50. Insiders sold 144,685 shares of company stock worth $5,854,985 in the last ninety days. Insiders own 58.72% of the company’s stock.

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.