Lundin Gold (TSE:LUG) Rating Increased to Strong-Buy at Veritas

Veritas upgraded shares of Lundin Gold (TSE:LUG - Free Report) to a strong-buy rating in a research report report published on Wednesday, May 14th,Zacks.com reports.

A number of other research analysts also recently commented on the company. TD Securities increased their price objective on Lundin Gold from C$46.00 to C$58.00 in a report on Tuesday, April 15th. Cibc World Mkts downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 20th. Raymond James increased their price target on shares of Lundin Gold from C$32.00 to C$43.00 in a research note on Friday, April 4th. Scotiabank boosted their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Finally, Desjardins upped their target price on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$47.89.

Lundin Gold Price Performance

Shares of LUG traded down C$0.10 during midday trading on Wednesday, reaching C$62.05. The stock had a trading volume of 264,385 shares, compared to its average volume of 518,247. The company has a market cap of C$10.59 billion, a price-to-earnings ratio of 34.83 and a beta of 1.23. The company's fifty day simple moving average is C$51.72 and its two-hundred day simple moving average is C$40.73. Lundin Gold has a 1-year low of C$18.48 and a 1-year high of C$67.80.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Lundin Gold's previous quarterly dividend of $0.20. Lundin Gold's payout ratio is 60.06%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Also, Senior Officer Sheila Margaret Colman sold 14,500 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of C$40.40, for a total transaction of C$585,824.65. Insiders sold a total of 141,150 shares of company stock valued at $5,959,984 in the last ninety days. 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.