Lundin Gold Inc. (TSE:LUG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Lundin Gold Inc. (TSE:LUG) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$34.45.

A number of brokerages have commented on LUG. Royal Bank of Canada boosted their target price 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. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. 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. CIBC boosted their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Finally, Scotiabank raised their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were 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 Up 2.3 %

Shares of TSE:LUG opened at C$41.68 on Thursday. The firm has a fifty day moving average of C$35.14 and a two-hundred day moving average of C$32.23. Lundin Gold has a 12-month low of C$15.24 and a 12-month high of C$41.74. The firm has a market capitalization of C$7.12 billion, a P/E ratio of 23.40 and a beta of 1.23.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 1.92%. Lundin Gold’s payout ratio is 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.