Lundin Gold (TSE:LUG) Cut to “Hold” at TD Securities

TD Securities lowered shares of Lundin Gold (TSE:LUG) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Marketbeat Ratings reports. TD Securities currently has C$73.00 target price on the stock, up from their previous target price of C$65.00.

LUG has been the subject of several other reports. Cibc World Mkts lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Jefferies Financial Group increased their target price on shares of Lundin Gold from C$36.00 to C$45.00 in a research report on Friday, April 4th. 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. Raymond James Financial upped their price objective on shares of Lundin Gold from C$32.00 to C$43.00 in a research note on Friday, April 4th. Finally, National Bank Financial cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$54.18.

Lundin Gold Trading Down 0.2%

LUG stock opened at C$64.08 on Wednesday. Lundin Gold has a 1-year low of C$21.51 and a 1-year high of C$75.19. The business’s 50 day moving average is C$67.52 and its 200-day moving average is C$51.54. The firm has a market cap of C$10.94 billion, a P/E ratio of 35.97 and a beta of 1.23.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 1.30%. The ex-dividend date was Tuesday, June 10th. Lundin Gold’s dividend payout ratio is 60.06%.

Insider Buying and Selling at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 1,400 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of C$75.05, for a total value of C$105,070.00. Also, Director Pablo Mir sold 15,000 shares of Lundin Gold stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$66.44, for a total value of C$996,550.50. In the last ninety days, insiders have sold 65,056 shares of company stock worth $4,166,044. 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.