Lundin Gold (TSE:LUG) Price Target Raised to C$78.00

Lundin Gold (TSE:LUG) had its target price increased by Canaccord Genuity Group from C$60.00 to C$78.00 in a report issued on Thursday morning,BayStreet.CA reports.

A number of other equities analysts have also weighed in on the company. National Bank Financial lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 23rd. Royal Bank Of Canada upped their target price on Lundin Gold from C$50.00 to C$54.00 in a research report on Wednesday, June 4th. Raymond James Financial upped their target price on Lundin Gold from C$53.00 to C$65.00 in a research report on Thursday, August 21st. National Bankshares lowered Lundin Gold from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from C$67.75 to C$89.00 in a research report on Tuesday, June 24th. Finally, TD Securities lowered Lundin Gold from a “strong-buy” rating to a “hold” rating and upped their target price for the stock from C$65.00 to C$73.00 in a research report on Wednesday, July 16th. Eleven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of C$60.68.

Lundin Gold Stock Performance

Shares of LUG opened at C$91.28 on Thursday. Lundin Gold has a 52-week low of C$29.42 and a 52-week high of C$97.67. The business’s 50 day moving average price is C$82.39 and its two-hundred day moving average price is C$68.15. The firm has a market cap of C$22.03 billion, a PE ratio of 35.94 and a beta of 1.15.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 25th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.21. Lundin Gold’s payout ratio is currently 45.28%.

Insider Buying and Selling at Lundin Gold

In other news, insider Chester See sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the completion of the sale, the insider directly owned 132,571 shares of the company’s stock, valued at C$11,043,164.30. This trade represents a 13.11% decrease in their position. Also, insider Sheila Margaret Colman sold 14,600 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total value of C$1,189,754.00. Following the sale, the insider directly owned 37,068 shares of the company’s stock, valued at approximately C$3,020,671.32. This represents a 28.26% decrease in their ownership of the stock. Company insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.