Brokerages Set Lundin Gold Inc. (TSE:LUG) Target Price at C$54.18

Key Points

• Lundin Gold Inc. has received a consensus rating of "Reduce" from thirteen brokerages, with one analyst recommending a sell and twelve recommending a hold.
• The firm's average 1-year price objective is C$54.18, reflecting a decrease from previously higher target prices set by other analysts.
• Lundin Gold has recently cut its quarterly dividend to $0.2075 per share, resulting in an annual yield of 1.28%.

Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) have earned an average recommendation of "Reduce" from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and twelve have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$54.18.

A number of equities analysts recently weighed in on LUG shares. Veritas cut shares of Lundin Gold from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 9th. BMO Capital Markets increased their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a research report on Friday, May 9th. Desjardins cut shares of Lundin Gold from a "moderate buy" rating to a "hold" rating and raised their price target for the company from C$62.00 to C$70.00 in a research report on Thursday, July 17th. TD Securities cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating and raised their price target for the company from C$65.00 to C$73.00 in a research report on Wednesday, July 16th. Finally, Raymond James Financial raised their price target on shares of Lundin Gold from C$32.00 to C$43.00 in a research report on Friday, April 4th.

Insider Activity at Lundin Gold

In other news, Senior Officer Sheila Margaret Colman sold 1,400 shares of Lundin Gold stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of C$75.05, for a total value of C$105,070.00. Also, Director Pablo Mir sold 15,000 shares of Lundin Gold stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of C$66.44, for a total transaction of C$996,550.50. Over the last quarter, insiders have sold 65,056 shares of company stock valued at $4,166,044. 58.72% of the stock is currently owned by corporate insiders.

Lundin Gold Stock Performance

Shares of LUG traded down C$0.81 during mid-day trading on Friday, hitting C$64.73. 101,993 shares of the company were exchanged, compared to its average volume of 665,032. The stock has a market cap of C$11.05 billion, a price-to-earnings ratio of 36.34 and a beta of 1.23. Lundin Gold has a 1-year low of C$21.51 and a 1-year high of C$75.19. The company has a 50 day moving average of C$68.61 and a 200-day moving average of C$53.29.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Tuesday, June 10th. 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.