Lundin Gold (TSE:LUG) Stock Rating Lowered by CIBC

CIBC cut shares of Lundin Gold (TSE:LUG) from an outperform rating to a neutral rating in a report released on Thursday,BayStreet.CA reports. The firm currently has C$44.00 target price on the stock, up from their previous target price of C$41.00.

Several other equities research analysts have also commented on the stock. BMO Capital Markets lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. TD Securities raised their price objective on shares of Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Scotiabank raised their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Finally, Cormark lowered shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold has a consensus rating of “Hold” and a consensus target price of C$35.45.

Lundin Gold Stock Down 3.4 %

LUG opened at C$42.68 on Thursday. The firm has a market cap of C$7.29 billion, a price-to-earnings ratio of 23.96 and a beta of 1.23. Lundin Gold has a fifty-two week low of C$18.08 and a fifty-two week high of C$45.82. The company’s 50-day moving average price is C$38.54 and its 200 day moving average price is C$33.89.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th will be given a dividend of $0.43 per share. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Tuesday, March 11th. Lundin Gold’s payout ratio is 60.06%.

Insider Activity

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

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.