Brokerages Set Lundin Gold Inc. (TSE:LUG) PT at C$34.45

Lundin Gold Inc. (TSE:LUG) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$35.18.

Several brokerages recently issued reports on LUG. Desjardins boosted their price objective on 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. Cormark cut Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 20th. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their price objective on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Chester See sold 5,800 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$40.92, for a total value of C$237,321.50. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total value of C$413,226.00. Insiders sold a total of 115,985 shares of company stock worth $4,681,281 in the last ninety days. 58.72% of the stock is owned by insiders.

Lundin Gold Trading Up 5.9 %

Lundin Gold stock opened at C$40.88 on Thursday. The business has a 50-day moving average of C$35.80 and a 200-day moving average of C$32.64. Lundin Gold has a 1 year low of C$16.77 and a 1 year high of C$41.74. The firm has a market capitalization of C$6.98 billion, a P/E ratio of 22.95 and a beta of 1.23.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th will be given a dividend of $0.43 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Tuesday, March 11th. Lundin Gold’s dividend payout ratio is currently 60.06%.

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.