Jefferies Financial Group Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG - Free Report) had its price objective lifted by Jefferies Financial Group from C$36.00 to C$45.00 in a report issued on Friday morning,BayStreet.CA reports.

LUG has been the topic of several other reports. CIBC downgraded shares of Lundin Gold from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from C$41.00 to C$44.00 in a research report on Thursday, March 20th. Royal Bank of Canada lifted their price target on Lundin Gold from C$37.00 to C$42.00 in a report on Friday, April 4th. Cibc World Mkts lowered Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Scotiabank lifted their target price on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Finally, BMO Capital Markets lowered Lundin Gold from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 10th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$38.18.

Lundin Gold Trading Up 6.1 %

LUG traded up C$2.62 during trading on Friday, reaching C$45.85. 585,354 shares of the company were exchanged, compared to its average volume of 422,725. The stock has a market cap of C$7.83 billion, a P/E ratio of 25.74 and a beta of 1.23. Lundin Gold has a 52 week low of C$18.08 and a 52 week high of C$46.44. The firm has a 50 day moving average of C$41.07 and a 200 day moving average of C$35.47.

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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 represents a $1.72 dividend on an annualized basis and a yield of 3.75%. 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. Lundin Gold's dividend payout ratio is presently 60.06%.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the 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, Senior Officer Chester See sold 5,800 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$40.92, for a total value of C$237,321.50. In the last quarter, insiders sold 133,150 shares of company stock worth $5,499,984. Corporate 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.