Lundin Gold Inc. (TSE:LUG - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$39.85 and traded as high as C$44.69. Lundin Gold shares last traded at C$44.56, with a volume of 345,425 shares changing hands.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Cibc World Mkts cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Royal Bank of Canada raised their price target on shares of Lundin Gold from C$37.00 to C$42.00 in a research note on Friday. Desjardins upped their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group increased their target price on Lundin Gold from C$36.00 to C$45.00 in a report on Friday. Finally, Cormark lowered Lundin Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lundin Gold presently has an average rating of "Hold" and an average target price of C$38.18.
Get Our Latest Report on Lundin Gold
Lundin Gold Stock Performance
The company's 50-day moving average is C$40.55 and its 200-day moving average is C$35.09. The firm has a market cap of C$7.13 billion, a price-to-earnings ratio of 23.44 and a beta of 1.23.
Lundin Gold Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.12%. This is a positive change 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 (DPR) is presently 60.06%.
Insider Transactions at Lundin Gold
In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of Lundin Gold stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Also, Director Ian Gibbs sold 14,200 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total value of C$587,880.00. Insiders sold a total of 144,685 shares of company stock worth $5,854,985 over the last 90 days. 58.72% of the stock is owned by insiders.
About Lundin Gold
(
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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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