Analysts Set Lundin Gold Inc. (TSE:LUG) PT at C$35.45

Lundin Gold Inc. (TSE:LUG) has been given an average rating of “Hold” by the twelve analysts that are currently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$35.45.

Several brokerages have commented on LUG. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and decreased their price target for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Scotiabank boosted their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Finally, Royal Bank of Canada increased their price target on shares of Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th.

Insider Activity at Lundin Gold

In other Lundin Gold news, Director Ian Gibbs sold 14,200 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of C$41.40, for a total value of C$587,880.00. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total value of C$413,226.00. Insiders sold a total of 144,685 shares of company stock worth $5,854,985 in the last quarter. 58.72% of the stock is owned by company insiders.

Lundin Gold Stock Performance

LUG stock opened at C$43.49 on Monday. The company’s fifty day moving average price is C$39.65 and its 200-day moving average price is C$34.54. Lundin Gold has a one year low of C$18.08 and a one year high of C$45.82. The company has a market capitalization of C$7.42 billion, a PE ratio of 24.41 and a beta of 1.23.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.95%. This is an increase 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 is presently 60.06%.

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.