Lundin Gold (TSE:LUG) Price Target Raised to C$45.00

Lundin Gold (TSE:LUG) had its target price lifted by Jefferies Financial Group from C$36.00 to C$45.00 in a research report report published on Friday,BayStreet.CA reports.

A number of other equities analysts have also issued reports on the company. Desjardins increased their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Scotiabank raised their target price on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Cibc World Mkts cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. CIBC downgraded shares of Lundin Gold from an “outperform” rating to a “neutral” rating and upped their price target for the company from C$41.00 to C$44.00 in a report on Thursday, March 20th. Finally, 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. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$38.18.

Lundin Gold Trading Down 8.0 %

Shares of TSE:LUG opened at C$41.75 on Friday. The company has a 50 day moving average of C$40.55 and a 200-day moving average of C$35.18. The firm has a market cap of C$7.13 billion, a P/E ratio of 23.44 and a beta of 1.23. Lundin Gold has a twelve month low of C$18.08 and a twelve month high of C$45.82.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.12%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, March 11th. Lundin Gold’s dividend payout ratio (DPR) is presently 60.06%.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 9,900 shares of Lundin Gold stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total transaction of C$413,226.00. Also, Director Ronald F. Hochstein sold 88,750 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total value of C$3,675,732.13. Insiders have sold 144,685 shares of company stock worth $5,854,985 over the last 90 days. 58.72% of the stock is 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.