Lundin Gold Inc. (TSE:LUG - Get Free Report) shares hit a new 52-week high on Tuesday after Desjardins raised their price target on the stock from C$38.00 to C$42.00. Desjardins currently has a buy rating on the stock. Lundin Gold traded as high as C$41.28 and last traded at C$40.88, with a volume of 394950 shares. The stock had previously closed at C$39.89.
A number of other analysts also recently commented on LUG. Cormark raised shares of Lundin Gold from a "market perform" rating to a "buy" rating and boosted their price objective for the stock from C$35.00 to C$38.00 in a report on Friday, January 10th. TD Securities boosted their price target on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Canaccord Genuity Group downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Jefferies Financial Group cut Lundin Gold from a "buy" rating to a "hold" rating and reduced their price objective for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, CIBC upped their target price on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$34.45.
Check Out Our Latest Report on LUG
Insider Activity at Lundin Gold
In other news, Director Pablo Mir sold 11,535 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. Insiders own 58.72% of the company's stock.
Lundin Gold Stock Down 2.0 %
The company's fifty day moving average is C$34.04 and its 200 day moving average is C$31.20. The stock has a market cap of C$6.37 billion, a PE ratio of 20.94 and a beta of 1.23.
Lundin Gold Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 2.14%. Lundin Gold's dividend payout ratio is currently 60.06%.
About Lundin Gold
(
Get Free Report)
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.
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