Lundin Gold Inc. (TSE:LUG) Receives C$44.00 Average Target Price from Analysts

Lundin Gold Inc. (TSE:LUG) has been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$44.00.

A number of research analysts have recently commented on the company. Jefferies Financial Group increased their price target on Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. TD Securities increased their price target on Lundin Gold from C$46.00 to C$58.00 in a research note on Tuesday, April 15th. Cormark cut Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Desjardins raised their target price on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, CIBC lifted their target price on Lundin Gold from C$44.00 to C$46.00 in a report on Thursday, April 17th.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 5,800 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total value of C$413,226.00. In the last ninety days, insiders sold 141,150 shares of company stock worth $5,959,984. Company insiders own 58.72% of the company’s stock.

Lundin Gold Stock Performance

Shares of LUG opened at C$56.61 on Tuesday. Lundin Gold has a 52 week low of C$18.48 and a 52 week high of C$67.80. The stock has a market capitalization of C$9.66 billion, a price-to-earnings ratio of 31.78 and a beta of 1.23. The stock has a fifty day moving average of C$51.02 and a 200-day moving average of C$40.44.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were issued a dividend of $0.43 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Tuesday, March 11th. Lundin Gold’s dividend payout ratio (DPR) is presently 60.06%.

About Lundin Gold

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.