Lundin Gold Inc. (TSE:LUG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Lundin Gold Inc. (TSE:LUG) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$35.18.

A number of brokerages recently issued reports on LUG. Jefferies Financial Group lowered shares of Lundin Gold from a “buy” rating to a “hold” rating and decreased their target price for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Desjardins upped their price objective on shares of 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 increased their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Cormark lowered shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, BMO Capital Markets lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 5,800 shares of Lundin Gold stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of Lundin Gold stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total value of C$413,226.00. Insiders have sold 115,985 shares of company stock worth $4,681,281 over the last 90 days. Corporate insiders own 58.72% of the company’s stock.

Lundin Gold Stock Up 5.9 %

Shares of LUG opened at C$40.88 on Thursday. The firm has a 50-day moving average price of C$35.80 and a 200 day moving average price of C$32.64. The firm has a market capitalization of C$6.98 billion, a PE ratio of 22.95 and a beta of 1.23. Lundin Gold has a 52-week low of C$16.77 and a 52-week high of C$41.74.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th will be paid a $0.43 dividend. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.72 annualized dividend and a dividend yield of 4.21%. Lundin Gold’s dividend payout ratio (DPR) is presently 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.