Lundin Gold (TSE:LUG) Price Target Raised to C$43.00

Lundin Gold (TSE:LUG) had its price objective upped by Raymond James from C$32.00 to C$43.00 in a report published on Friday,BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group lifted their price objective on Lundin Gold from C$36.00 to C$45.00 in a research note on Friday. TD Securities boosted their target price on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cormark downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their price objective on shares of Lundin Gold from C$37.00 to C$42.00 in a research note on Friday. Finally, Cibc World Mkts downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$38.18.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$41.75 on Friday. The firm’s 50 day moving average price is C$40.55 and its two-hundred day moving average price is C$35.18. The stock has a market cap of C$7.13 billion, a PE ratio of 23.44 and a beta of 1.23. Lundin Gold has a 52-week low of C$18.08 and a 52-week high of C$45.82.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th were given a dividend of $0.43 per share. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Tuesday, March 11th. Lundin Gold’s dividend payout ratio is currently 60.06%.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total transaction of C$413,226.00. Also, Director Ronald F. Hochstein sold 88,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Over the last three months, insiders sold 144,685 shares of company stock worth $5,854,985. 58.72% of the stock is 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.