Lundin Gold (TSE:LUG) Stock Price Expected to Rise, TD Securities Analyst Says

Lundin Gold (TSE:LUG - Free Report) had its target price hoisted by TD Securities from C$46.00 to C$58.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

A number of other brokerages have also recently commented on LUG. Cibc World Mkts cut Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Royal Bank of Canada raised their price objective on Lundin Gold from C$37.00 to C$42.00 in a report on Friday, April 4th. Desjardins upped their target price on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. CIBC cut shares of Lundin Gold from an "outperform" rating to a "neutral" rating and increased their target price for the company from C$41.00 to C$44.00 in a research report on Thursday, March 20th. Finally, Jefferies Financial Group boosted their price target on shares of Lundin Gold from C$36.00 to C$45.00 in a research report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$42.20.

Lundin Gold Trading Up 2.1 %

LUG traded up C$1.22 during midday trading on Tuesday, hitting C$58.12. 698,734 shares of the company were exchanged, compared to its average volume of 448,863. The firm has a market capitalization of C$9.92 billion, a price-to-earnings ratio of 32.62 and a beta of 1.23. The company's 50 day simple moving average is C$43.49 and its 200 day simple moving average is C$36.79. Lundin Gold has a 1-year low of C$18.14 and a 1-year high of C$58.41.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were given a $0.43 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.72 dividend on an annualized basis and a yield of 2.96%. This is an increase from Lundin Gold's previous quarterly dividend of $0.20. Lundin Gold's payout ratio is currently 60.06%.

Insider Buying and Selling

In related news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total value 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 transaction of C$237,321.50. In the last ninety days, insiders sold 133,150 shares of company stock valued at $5,499,984. 58.72% of the stock is currently owned by insiders.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.