Lundin Gold (TSE:LUG) Price Target Raised to C$62.00

Lundin Gold (TSE:LUG) had its target price lifted by BMO Capital Markets from C$45.00 to C$62.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other brokerages also recently commented on LUG. Raymond James upped their target price on Lundin Gold from C$32.00 to C$43.00 in a report on Friday, April 4th. Desjardins upped their target price on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upped their target price on Lundin Gold from C$36.00 to C$45.00 in a report on Friday, April 4th. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, Scotiabank upped their target price on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$44.00.

Lundin Gold Price Performance

TSE:LUG opened at C$67.79 on Friday. The business has a 50 day moving average of C$49.23 and a 200 day moving average of C$39.49. The company has a market capitalization of C$11.57 billion, a price-to-earnings ratio of 38.05 and a beta of 1.23. Lundin Gold has a 1-year low of C$18.48 and a 1-year high of C$67.80.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th were paid 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 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Tuesday, March 11th. Lundin Gold’s dividend payout ratio (DPR) is currently 60.06%.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 9,900 shares of Lundin Gold stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total transaction of C$413,226.00. Also, Senior Officer Chester See sold 5,800 shares of Lundin Gold stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total value of C$237,321.50. In the last three months, insiders sold 133,150 shares of company stock valued at $5,499,984. Insiders own 58.72% of the company’s stock.

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.