Lundin Gold Inc. (TSE:LUG) Receives Average Rating 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 been given an average rating of "Reduce" by the thirteen analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$58.95.

A number of analysts have recently issued reports on the company. Veritas cut Lundin Gold from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 9th. TD Securities downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating and boosted their target price for the company from C$65.00 to C$73.00 in a research note on Wednesday, July 16th. Desjardins cut shares of Lundin Gold from a "moderate buy" rating to a "hold" rating and increased their target price for the stock from C$62.00 to C$70.00 in a research report on Thursday, July 17th. Royal Bank Of Canada boosted their price target on shares of Lundin Gold from C$50.00 to C$54.00 in a research report on Wednesday, June 4th. Finally, Raymond James Financial raised their price objective on shares of Lundin Gold from C$53.00 to C$65.00 in a report on Thursday, August 21st.

Insiders Place Their Bets

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 value of C$1,666,000.00. Following the completion of the sale, the insider directly owned 132,571 shares in the company, valued at approximately C$11,043,164.30. This trade represents a 13.11% decrease in their ownership of the stock. 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 completion of the sale, the insider owned 37,068 shares of the company's stock, valued at approximately C$3,020,671.32. This trade represents a 28.26% decrease in their ownership of the stock. Over the last 90 days, insiders sold 36,000 shares of company stock valued at $2,960,824. 58.72% of the stock is currently owned by corporate insiders.

Lundin Gold Price Performance

Shares of LUG traded up C$0.39 on Monday, reaching C$84.65. 320,544 shares of the stock traded hands, compared to its average volume of 699,319. The firm has a market cap of C$20.43 billion, a price-to-earnings ratio of 33.33 and a beta of 1.15. Lundin Gold has a 12 month low of C$28.64 and a 12 month high of C$97.67. The stock's 50-day moving average price is C$77.22 and its 200-day moving average price is C$64.39.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 25th will be given 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 is Wednesday, September 10th. This represents a $2.70 dividend on an annualized basis and a yield of 3.2%. Lundin Gold's dividend payout ratio is currently 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.