Lundin Gold Inc. (TSE:LUG) Given Consensus Recommendation of “Hold” by Analysts

Lundin Gold Inc. (TSE:LUG) has received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$35.45.

A number of analysts have recently weighed in on LUG shares. CIBC lowered Lundin Gold from an “outperform” rating to a “neutral” rating and raised their target price for the company from C$41.00 to C$44.00 in a research note on Thursday, March 20th. Cormark downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 20th. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised their price target on shares of Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, TD Securities upped their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a report on Thursday, February 27th.

Lundin Gold Stock Down 0.1 %

Shares of Lundin Gold stock opened at C$43.49 on Monday. Lundin Gold has a 12-month low of C$18.08 and a 12-month high of C$45.82. The stock has a market capitalization of C$7.42 billion, a P/E ratio of 24.41 and a beta of 1.23. The company has a 50-day simple moving average of C$39.65 and a 200 day simple moving average of C$34.59.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.95%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. Lundin Gold’s dividend payout ratio (DPR) is 60.06%.

Insider Transactions at Lundin Gold

In related news, Director Ian Gibbs sold 14,200 shares of Lundin Gold stock in a transaction that occurred 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. Also, 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 value of C$3,675,732.13. Over the last 90 days, insiders sold 144,685 shares of company stock valued at $5,854,985. 58.72% of the stock is currently owned by corporate insiders.

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.