Lundin Gold (TSE:LUG) Downgraded by Cormark to Hold

Cormark cut shares of Lundin Gold (TSE:LUG - Free Report) from a moderate buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports. Cormark also issued estimates for Lundin Gold's Q1 2025 earnings at $0.85 EPS.

LUG has been the topic of several other reports. Jefferies Financial Group raised their price objective on Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. Royal Bank of Canada raised their price target on shares of Lundin Gold from C$37.00 to C$42.00 in a research note on Friday, April 4th. Desjardins increased their price objective on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. CIBC boosted their target price on shares of Lundin Gold from C$44.00 to C$46.00 in a research note on Thursday, April 17th. Finally, Raymond James increased their price target on Lundin Gold from C$32.00 to C$43.00 in a research note on Friday, April 4th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Lundin Gold presently has an average rating of "Hold" and an average price target of C$42.20.

Lundin Gold Price Performance

LUG traded down C$3.09 during trading on Tuesday, hitting C$55.05. 291,164 shares of the stock traded hands, compared to its average volume of 468,616. The business has a 50 day moving average price of C$45.50 and a 200 day moving average price of C$37.78. Lundin Gold has a twelve month low of C$18.14 and a twelve month high of C$60.35. The company has a market cap of C$9.40 billion, a price-to-earnings ratio of 30.90 and a beta of 1.23.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Lundin Gold's previous quarterly dividend of $0.20. Lundin Gold's dividend payout ratio (DPR) is currently 60.06%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 5,800 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total value of C$237,321.50. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total transaction of C$413,226.00. In the last ninety days, insiders sold 133,150 shares of company stock worth $5,499,984. Company insiders own 58.72% of the company's stock.

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.