Lundin Gold (TSE:LUG) Price Target Raised to C$35.00

Lundin Gold (TSE:LUG) had its price target upped by Royal Bank of Canada from C$31.00 to C$35.00 in a research report report published on Tuesday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

LUG has been the topic of a number of other reports. Scotiabank lifted their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. TD Securities lifted their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Finally, CIBC lifted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$34.45.

Lundin Gold Stock Performance

LUG stock opened at C$38.06 on Tuesday. The stock has a market capitalization of C$6.50 billion, a price-to-earnings ratio of 21.36 and a beta of 1.23. Lundin Gold has a 1 year low of C$14.42 and a 1 year high of C$41.28. The stock’s fifty day moving average is C$33.92 and its two-hundred day moving average is C$31.10.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.10%. Lundin Gold’s dividend payout ratio is currently 60.06%.

Insider Buying and Selling

In related news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is currently owned by company 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.