Lundin Gold Inc. (TSE:LUG) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirteen research firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is C$48.98.

Several equities analysts have issued reports on the stock. BMO Capital Markets increased their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. Desjardins lifted their target price on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Cormark downgraded Lundin Gold from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Jefferies Financial Group increased their target price on shares of Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. Finally, CIBC lifted their price objective on shares of Lundin Gold from C$44.00 to C$46.00 in a report on Thursday, April 17th.

Lundin Gold Stock Down 2.1%

Shares of LUG stock traded down C$1.41 during mid-day trading on Friday, hitting C$67.01. 1,135,008 shares of the stock were exchanged, compared to its average volume of 632,228. Lundin Gold has a 52-week low of C$18.48 and a 52-week high of C$74.91. The company has a market cap of C$11.44 billion, a PE ratio of 37.61 and a beta of 1.23. The firm has a fifty day moving average of C$58.13 and a 200 day moving average of C$44.19.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 25th will be issued a $0.2075 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 1.24%. Lundin Gold's payout ratio is 60.06%.

Insider Transactions at Lundin Gold

In other news, Director Pablo Mir sold 15,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$66.44, for a total transaction of C$996,550.50. Also, Senior Officer Terrence Smith sold 40,656 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total value of C$2,604,423.36. In the last three months, insiders sold 63,656 shares of company stock valued at $4,060,974. Insiders own 58.72% of the company's stock.

About Lundin Gold

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.