Desjardins Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its target price upped by Desjardins from C$38.00 to C$42.00 in a report issued on Thursday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

LUG has been the topic of several other research reports. CIBC lifted their price target on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and dropped their price target for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. TD Securities lifted their price target on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their price target on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold has an average rating of “Moderate Buy” and a consensus target price of C$34.45.

Lundin Gold Price Performance

LUG opened at C$38.06 on Thursday. The business’s 50-day moving average price is C$33.92 and its two-hundred day moving average price is C$31.10. Lundin Gold has a 1 year low of C$14.42 and a 1 year high of C$41.28. The company 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s 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 transaction of C$355,001.16. 58.72% of the stock is currently owned by corporate insiders.

About Lundin Gold

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.