Lundin Gold Inc. (TSE:LUG) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Lundin Gold Inc. (TSE:LUG) have earned a consensus recommendation of “Hold” from the twelve research firms that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$35.45.

LUG has been the subject of several recent research reports. TD Securities lifted their target price on shares of Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Scotiabank increased 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 downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Finally, CIBC cut shares of Lundin Gold from an “outperform” rating to a “neutral” rating and upped their price target for the stock from C$41.00 to C$44.00 in a research note on Thursday, March 20th.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 9,900 shares of Lundin Gold stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Over the last three months, insiders have sold 144,685 shares of company stock worth $5,854,985. Corporate insiders own 58.72% of the company’s stock.

Lundin Gold Trading Down 0.1 %

Shares of LUG stock opened at C$43.49 on Monday. The company’s fifty day moving average price is C$39.65 and its 200-day moving average price is C$34.54. The stock has a market cap of C$7.42 billion, a PE ratio of 24.41 and a beta of 1.23. Lundin Gold has a 12 month low of C$18.08 and a 12 month high of C$45.82.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th were given a dividend of $0.43 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.95%. Lundin Gold’s payout ratio 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.