Lundin Gold Inc. (TSE:LUG) Receives C$48.98 Average PT from Brokerages

Shares of Lundin Gold Inc. (TSE:LUG) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$48.98.

LUG has been the subject of several research analyst reports. Raymond James increased their target price on Lundin Gold from C$32.00 to C$43.00 in a research report on Friday, April 4th. BMO Capital Markets increased their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. Desjardins boosted their target price 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. CIBC raised their target price on shares of Lundin Gold from C$44.00 to C$46.00 in a research note on Thursday, April 17th. Finally, Royal Bank of Canada lifted their price target on shares of Lundin Gold from C$50.00 to C$54.00 in a report on Wednesday, June 4th.

Insider Activity at Lundin Gold

In other news, Senior Officer Terrence Smith sold 40,656 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total transaction of C$2,604,423.36. Also, Director Pablo Mir sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of C$57.50, for a total value of C$460,000.00. 58.72% of the stock is currently owned by insiders.

Lundin Gold Stock Performance

LUG opened at C$68.42 on Friday. The stock has a market cap of C$11.68 billion, a price-to-earnings ratio of 38.41 and a beta of 1.23. The firm’s fifty day moving average is C$57.70 and its 200 day moving average is C$44.03. Lundin Gold has a fifty-two week low of C$18.48 and a fifty-two week high of C$74.91.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 25th will be issued a $0.2075 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.83 annualized dividend and a dividend yield of 1.21%. Lundin Gold’s dividend payout ratio (DPR) is presently 60.06%.

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.