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

Key Points

• Lundin Gold Inc. has received a consensus analyst rating of "Reduce," with one sell rating and eleven hold ratings from twelve covering firms.
• The company recently raised its quarterly dividend from $0.21 to $0.675 per share, resulting in a yield of 2.9% and a payout ratio of 45.28%.
• Analyst price targets for Lundin Gold have varied, with BMO Capital Markets increasing their target from C$93.00 to C$104.00, while National Bankshares downgraded from "outperform" to "sector perform."

Lundin Gold Inc. (TSE:LUG - Get Free Report) has received a consensus recommendation of "Reduce" from the twelve ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$64.50.

LUG has been the topic of a number of analyst reports. BMO Capital Markets raised their price target on Lundin Gold from C$93.00 to C$104.00 in a research note on Thursday. National Bankshares downgraded shares of Lundin Gold from an "outperform" rating to a "sector perform" rating and increased their target price for the company from C$67.75 to C$89.00 in a research report on Tuesday, June 24th. Canaccord Genuity Group lifted their price target on shares of Lundin Gold from C$60.00 to C$78.00 in a research note on Thursday, October 2nd. National Bank Financial lowered shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Finally, TD Securities lowered shares of Lundin Gold from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from C$65.00 to C$73.00 in a research note on Wednesday, July 16th.

Lundin Gold Trading Down 2.9%

Shares of LUG opened at C$94.35 on Friday. Lundin Gold has a twelve month low of C$29.42 and a twelve month high of C$99.18. The firm's fifty day simple moving average is C$84.83 and its 200-day simple moving average is C$69.39. The firm has a market capitalization of C$22.77 billion, a price-to-earnings ratio of 37.15 and a beta of 1.26.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.9%. This is a positive change from Lundin Gold's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, September 10th. Lundin Gold's dividend payout ratio is presently 45.28%.

Insider Activity at Lundin Gold

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

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.