Analysts Set Lundin Gold Inc. (TSE:LUG) Price Target at C$34.45

Lundin Gold Inc. (TSE:LUG) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$35.18.

LUG has been the topic of a number of research analyst reports. Scotiabank boosted their price target on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Desjardins upped their price objective on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, TD Securities lifted their price target on Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a research report on Thursday.

Lundin Gold Stock Down 0.9 %

Shares of Lundin Gold stock opened at C$39.86 on Thursday. The firm has a market cap of C$6.80 billion, a PE ratio of 22.37 and a beta of 1.23. The company’s fifty day simple moving average is C$35.50 and its two-hundred day simple moving average is C$32.34. Lundin Gold has a 12-month low of C$15.40 and a 12-month high of C$41.74.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. Lundin Gold’s dividend payout ratio is currently 60.06%.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total value of C$413,226.00. Also, 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. Insiders have sold a total of 115,985 shares of company stock worth $4,681,281 over the last 90 days. 58.72% of the stock is currently owned by insiders.

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.