Lundin Gold Inc. (TSE:LUG) Given Consensus Rating of "Reduce" by Analysts

Key Points

• Lundin Gold Inc. has received an average rating of "Reduce" from analysts, with one sell recommendation and twelve hold recommendations from the covering research firms.
• The company's recent dividend payout was $0.2075 per share, reflecting a yield of 1.1%, with a payout ratio of 60.06%.
• Insiders have sold 57,056 shares of Lundin Gold stock in the last three months, amounting to over C$3.7 million in total transactions.

Lundin Gold Inc. (TSE:LUG - Get Free Report) has earned an average recommendation of "Reduce" from the thirteen analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$58.95.

LUG has been the subject of a number of recent analyst reports. National Bankshares cut shares of Lundin Gold from an "outperform" rating to a "sector perform" rating and increased their price target for the company from C$67.75 to C$89.00 in a research note on Tuesday, June 24th. Desjardins lowered Lundin Gold from a "moderate buy" rating to a "hold" rating and upped their price objective for the company from C$62.00 to C$70.00 in a research note on Thursday, July 17th. BMO Capital Markets upped their price objective on Lundin Gold from C$45.00 to C$62.00 in a research note on Friday, May 9th. TD Securities lowered Lundin Gold from a "strong-buy" rating to a "hold" rating and upped their price objective for the company from C$65.00 to C$73.00 in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada upped their price objective on Lundin Gold from C$50.00 to C$54.00 in a research note on Wednesday, June 4th.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Terrence Smith sold 40,656 shares of the company's stock in a transaction that occurred on 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. Also, Director Pablo Mir sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of C$66.44, for a total value of C$996,550.50. Insiders have sold 57,056 shares of company stock worth $3,706,044 over the last 90 days. Company insiders own 58.72% of the company's stock.

Lundin Gold Price Performance

LUG stock traded up C$0.87 during mid-day trading on Thursday, reaching C$80.41. The company had a trading volume of 216,117 shares, compared to its average volume of 675,380. The stock has a 50 day simple moving average of C$71.20 and a two-hundred day simple moving average of C$58.31. The company has a market capitalization of C$13.73 billion, a price-to-earnings ratio of 45.14 and a beta of 1.23. Lundin Gold has a 52 week low of C$25.76 and a 52 week high of C$83.78.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were paid a $0.2075 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $0.83 annualized dividend and a yield of 1.0%. Lundin Gold's dividend payout ratio is currently 60.06%.

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.