Analysts Set Lundin Gold Inc. (TSE:LUG) Target Price at C$50.91

Shares of Lundin Gold Inc. (TSE:LUG) have earned an average recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$50.91.

A number of brokerages have recently issued reports on LUG. BMO Capital Markets boosted their target price on shares of Lundin Gold from C$45.00 to C$62.00 in a research note on Friday, May 9th. Cormark lowered shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Raymond James Financial boosted their target price on shares of Lundin Gold from C$32.00 to C$43.00 in a research note on Friday, April 4th. TD Securities boosted their target price on shares of Lundin Gold from C$58.00 to C$65.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, National Bank Financial lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 23rd.

Lundin Gold Trading Up 0.8%

Shares of LUG opened at C$72.45 on Wednesday. The firm has a market capitalization of C$12.37 billion, a P/E ratio of 40.67 and a beta of 1.23. Lundin Gold has a 12-month low of C$20.53 and a 12-month high of C$75.19. The firm has a fifty day moving average price of C$65.50 and a 200-day moving average price of C$48.95.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, June 10th. Lundin Gold’s dividend payout ratio (DPR) is presently 60.06%.

Insider Buying and Selling

In related news, Senior Officer Terrence Smith sold 40,656 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total value of C$2,604,423.36. Also, Senior Officer Sheila Margaret Colman sold 1,400 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of C$75.05, for a total transaction of C$105,070.00. Insiders sold a total of 65,056 shares of company stock valued at $4,166,044 over the last three months. 58.72% of the stock is owned by company insiders.

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.