Brokerages Set Lundin Gold Inc. (TSE:LUG) Target Price at C$35.45

Lundin Gold Inc. (TSE:LUG) has earned an average rating of “Hold” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$35.45.

LUG has been the subject of a number of analyst reports. Desjardins lifted their price objective on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Scotiabank lifted their price target on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, CIBC lowered Lundin Gold from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from C$41.00 to C$44.00 in a report on Thursday, March 20th.

Lundin Gold Trading Down 1.1 %

TSE:LUG opened at C$42.83 on Monday. The stock has a market capitalization of C$7.31 billion, a PE ratio of 24.04 and a beta of 1.23. Lundin Gold has a 1-year low of C$18.08 and a 1-year high of C$45.82. The firm has a fifty day simple moving average of C$39.10 and a 200 day simple moving average of C$34.30.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were given a dividend of $0.43 per share. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.72 annualized dividend and a yield of 4.02%. Lundin Gold’s dividend payout ratio (DPR) is presently 60.06%.

Insider Transactions at Lundin Gold

In related news, Director Ronald F. Hochstein sold 88,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Also, Director Ian Gibbs sold 14,200 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of C$41.40, for a total value of C$587,880.00. Over the last 90 days, insiders sold 144,685 shares of company stock valued at $5,854,985. 58.72% of the stock is currently owned by corporate 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.