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

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

Other analysts have also issued research reports about the stock. 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. 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. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group lowered shares of Lundin Gold from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Finally, Cormark upgraded shares of Lundin Gold from a “market perform” rating to a “buy” rating and lifted their price objective for the company from C$35.00 to C$38.00 in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$34.45.

Lundin Gold Stock Performance

TSE LUG opened at C$38.06 on Tuesday. Lundin Gold has a one year low of C$14.42 and a one year high of C$41.28. The company’s 50 day moving average price is C$33.92 and its 200 day moving average price is C$31.10. The firm 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 disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were issued a $0.20 dividend. 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 dividend payout ratio is presently 60.06%.

Insiders Place Their Bets

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction on Tuesday, January 7th. The shares were 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 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.