Lundin Gold (TSE:LUG) Downgraded to Hold Rating by Cormark

Cormark lowered shares of Lundin Gold (TSE:LUG) from a moderate buy rating to a hold rating in a research note released on Thursday morning,Zacks.com reports. Cormark also issued estimates for Lundin Gold’s FY2025 earnings at $2.39 EPS.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and reduced their price target for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. 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. Desjardins boosted their price target on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, CIBC boosted their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$34.45.

Lundin Gold Stock Up 1.9 %

Shares of Lundin Gold stock opened at C$38.37 on Thursday. The stock has a market cap of C$6.55 billion, a price-to-earnings ratio of 21.54 and a beta of 1.23. Lundin Gold has a twelve month low of C$15.12 and a twelve month high of C$41.28. The company’s fifty day moving average is C$34.38 and its 200 day moving average is C$31.65.

Lundin Gold Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 60.06%.

Insider Activity at Lundin Gold

In related news, Director Pablo Mir sold 11,535 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is currently owned by 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.