Lundin Gold Inc. (TSE:LUG) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Lundin Gold Inc. has received an average analyst rating of "Reduce", with one sell recommendation and twelve hold recommendations.
• The company recently increased its quarterly dividend from $0.21 to $0.675 per share, representing a 3.1% dividend yield.
• Lundin Gold's stock price dropped by 4.4%, opening at C$88.14 and experiencing significant insider selling in August.

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

LUG has been the topic of several analyst reports. Raymond James Financial upped their price target on shares of Lundin Gold from C$53.00 to C$65.00 in a research report on Thursday, August 21st. Veritas downgraded shares of Lundin Gold from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, June 9th. National Bankshares downgraded shares of Lundin Gold from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from C$67.75 to C$89.00 in a research note on Tuesday, June 24th. TD Securities downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating and increased their price objective for the stock from C$65.00 to C$73.00 in a research note on Wednesday, July 16th. Finally, Desjardins lowered shares of Lundin Gold from a "moderate buy" rating to a "hold" rating and lifted their price target for the company from C$62.00 to C$70.00 in a report on Thursday, July 17th.

Insider Buying and Selling

In related news, insider Sheila Margaret Colman sold 14,600 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider owned 37,068 shares in the company, valued at C$3,020,671.32. This trade represents a 28.26% decrease in their position. Also, insider Chester See sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the completion of the transaction, the insider owned 132,571 shares of the company's stock, valued at approximately C$11,043,164.30. This trade represents a 13.11% decrease in their position. In the last quarter, insiders sold 36,000 shares of company stock valued at $2,960,824. 58.72% of the stock is owned by company insiders.

Lundin Gold Stock Down 4.4%

Shares of LUG stock opened at C$88.14 on Monday. The company's fifty day simple moving average is C$76.09 and its 200-day simple moving average is C$63.46. The firm has a market cap of C$21.27 billion, a PE ratio of 34.70 and a beta of 1.15. Lundin Gold has a 12 month low of C$28.43 and a 12 month high of C$97.67.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 25th will be issued a dividend of $0.675 per share. This is a boost from Lundin Gold's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $2.70 annualized dividend and a dividend yield of 3.1%. Lundin Gold's payout ratio is presently 45.28%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.