Lundin Gold Inc. (TSE:LUG) Given Consensus Recommendation of "Moderate Buy" by Analysts

Lundin Gold Inc. (TSE:LUG - Get Free Report) has been given an average rating of "Moderate Buy" by the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$44.00.

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Lundin Gold from C$36.00 to C$45.00 in a research report on Friday, April 4th. Raymond James boosted their price objective on Lundin Gold from C$32.00 to C$43.00 in a report on Friday, April 4th. Cibc World Mkts cut Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Royal Bank of Canada boosted their price objective on Lundin Gold from C$37.00 to C$42.00 in a research report on Friday, April 4th. Finally, CIBC upped their price target on Lundin Gold from C$44.00 to C$46.00 in a research report on Thursday, April 17th.

Lundin Gold Trading Up 0.3%

Shares of LUG traded up C$0.17 during midday trading on Tuesday, hitting C$56.61. The stock had a trading volume of 503,851 shares, compared to its average volume of 506,535. The firm has a market cap of C$9.66 billion, a P/E ratio of 31.78 and a beta of 1.23. The business has a 50-day simple moving average of C$50.73 and a two-hundred day simple moving average of C$40.28. Lundin Gold has a fifty-two week low of C$18.48 and a fifty-two week high of C$67.80.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were issued a $0.43 dividend. This is an increase from Lundin Gold's previous quarterly dividend of $0.20. This represents a $1.72 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Tuesday, March 11th. Lundin Gold's payout ratio is presently 60.06%.

Insider Activity

In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total value of C$413,226.00. Insiders sold a total of 141,150 shares of company stock worth $5,959,984 over the last quarter. 58.72% of the stock is currently owned by corporate insiders.

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.