Lundin Gold (TSE:LUG) Rating Increased to Buy at Cormark

Cormark upgraded shares of Lundin Gold (TSE:LUG) from a market perform rating to a buy rating in a research note issued to investors on Monday,BayStreet.CA reports. They currently have C$54.00 price objective on the stock, up from their previous price objective of C$42.00.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their target price on shares of Lundin Gold from C$36.00 to C$45.00 in a research report on Friday, April 4th. TD Securities lifted their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Raymond James increased their target price on Lundin Gold from C$32.00 to C$43.00 in a report on Friday, April 4th. Scotiabank boosted their price target on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Finally, CIBC cut shares of Lundin Gold from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from C$41.00 to C$44.00 in a research note on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$40.80.

Lundin Gold Stock Up 6.2 %

Shares of TSE LUG opened at C$51.86 on Monday. The firm’s 50-day moving average price is C$42.15 and its 200-day moving average price is C$36.08. Lundin Gold has a 52-week low of C$18.08 and a 52-week high of C$52.58. The company has a market cap of C$8.85 billion, a PE ratio of 29.11 and a beta of 1.23.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th were paid a $0.43 dividend. The ex-dividend date was Tuesday, March 11th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.32%. Lundin Gold’s dividend payout ratio is 60.06%.

Insider Activity

In related news, Senior Officer Chester See sold 5,800 shares of Lundin Gold stock in a transaction that occurred 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 the business’s stock in a transaction that occurred on 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 133,150 shares of company stock worth $5,499,984 in the last three months. Company insiders own 58.72% of the company’s stock.

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.