Brokerages Set Lundin Gold Inc. (TSE:LUG) Price Target at C$34.45

Lundin Gold Inc. (TSE:LUG - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve research firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$35.18.

A number of equities research analysts have issued reports on LUG shares. Royal Bank of Canada boosted their price target on Lundin Gold from C$31.00 to C$35.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. 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. Cormark downgraded shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 20th. Jefferies Financial Group downgraded shares of Lundin Gold from a "buy" rating to a "hold" rating and cut their price objective for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, Desjardins raised their target price on Lundin Gold from C$38.00 to C$42.00 and gave the stock a "buy" rating in a report on Thursday, February 13th.

Insider Buying and Selling

In related news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Also, Senior Officer Chester See sold 5,800 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total value of C$237,321.50. Insiders sold a total of 115,985 shares of company stock valued at $4,681,281 over the last 90 days. Insiders own 58.72% of the company's stock.

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Lundin Gold Stock Performance

Shares of LUG stock traded down C$0.36 on Thursday, reaching C$39.86. The stock had a trading volume of 789,650 shares, compared to its average volume of 371,498. Lundin Gold has a 1 year low of C$15.40 and a 1 year high of C$41.74. The stock has a market cap of C$6.80 billion, a P/E ratio of 22.37 and a beta of 1.23. The company has a 50 day simple moving average of C$35.50 and a 200 day simple moving average of C$32.39.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.32%. This is a boost from Lundin Gold's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, March 11th. Lundin Gold's payout ratio is presently 60.06%.

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.