Lundin Gold (TSE:LUG) Price Target Raised to C$43.00 at Raymond James

Lundin Gold (TSE:LUG) had its price objective upped by Raymond James from C$32.00 to C$43.00 in a research note released on Friday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on LUG. Cibc World Mkts cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. CIBC cut shares of Lundin Gold from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from C$41.00 to C$44.00 in a research report on Thursday, March 20th. Scotiabank increased their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. BMO Capital Markets lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Finally, 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. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lundin Gold presently has an average rating of “Hold” and an average price target of C$38.18.

Lundin Gold Stock Performance

TSE:LUG opened at C$41.75 on Friday. The company has a market cap of C$7.13 billion, a price-to-earnings ratio of 23.44 and a beta of 1.23. The stock’s fifty day moving average price is C$40.55 and its two-hundred day moving average price is C$35.09. Lundin Gold has a 52-week low of C$18.08 and a 52-week high of C$45.82.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were issued a $0.43 dividend. 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 4.12%. The ex-dividend date was Tuesday, March 11th. Lundin Gold’s dividend payout ratio is 60.06%.

Insider Transactions at Lundin Gold

In related news, Director Ian Gibbs sold 14,200 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total value of C$587,880.00. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the 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 have sold a total of 144,685 shares of company stock valued at $5,854,985 over the last 90 days. 58.72% of the stock is owned by company 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.