Lundin Gold Inc. (TSE:LUG) Receives C$42.20 Average Target Price from Brokerages

Lundin Gold Inc. (TSE:LUG) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$42.20.

Several analysts have recently issued reports on LUG shares. Desjardins upped their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group boosted their price target on shares of Lundin Gold from C$36.00 to C$45.00 in a research report on Friday, April 4th. CIBC increased their price objective on shares of Lundin Gold from C$44.00 to C$46.00 in a research report on Thursday, April 17th. Cormark upgraded shares of Lundin Gold from a “market perform” rating to a “buy” rating and boosted their target price for the stock from C$42.00 to C$54.00 in a report on Monday, April 14th. Finally, TD Securities increased their price target on shares of Lundin Gold from C$46.00 to C$58.00 in a report on Tuesday, April 15th.

Lundin Gold Trading Down 0.8 %

TSE:LUG opened at C$58.48 on Friday. The business’s 50-day moving average is C$43.90 and its 200 day moving average is C$37.04. Lundin Gold has a 12 month low of C$18.14 and a 12 month high of C$60.35. The company has a market capitalization of C$9.98 billion, a P/E ratio of 32.83 and a beta of 1.23.

Lundin Gold Increases Dividend

The firm 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. This represents a $1.72 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. Lundin Gold’s payout ratio is 60.06%.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total transaction of C$413,226.00. Also, Director Ian Gibbs sold 14,200 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of C$41.40, for a total transaction of C$587,880.00. Over the last 90 days, insiders have sold 133,150 shares of company stock valued at $5,499,984. 58.72% of the stock is currently owned by insiders.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.