TD Securities Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its target price raised by TD Securities from C$40.00 to C$46.00 in a report released on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on LUG. BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Royal Bank of Canada raised their target price on shares of Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank upped their target price on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, CIBC upped their price objective on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lundin Gold has an average rating of “Moderate Buy” and an average target price of C$35.18.

Lundin Gold Trading Down 3.5 %

Shares of LUG opened at C$40.22 on Thursday. Lundin Gold has a 52 week low of C$15.32 and a 52 week high of C$41.74. The firm has a market cap of C$6.87 billion, a price-to-earnings ratio of 22.58 and a beta of 1.23. The stock has a 50 day moving average of C$35.14 and a 200-day moving average of C$32.23.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s payout ratio is currently 60.06%.

Insider Buying and Selling

In related news, Director Ronald F. Hochstein sold 88,750 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, 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 have sold a total of 110,185 shares of company stock valued at $4,443,959 over the last quarter. Corporate insiders own 58.72% of the company’s stock.

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.