Lundin Gold (TSE:LUG) Shares Down 12.5% - Should You Sell?

Lundin Gold Inc. (TSE:LUG - Get Free Report) dropped 12.5% during trading on Monday . The company traded as low as C$58.62 and last traded at C$59.30. Approximately 292,039 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 483,119 shares. The stock had previously closed at C$67.79.

Wall Street Analyst Weigh In

LUG has been the topic of a number of recent analyst reports. Raymond James increased their target price on shares of Lundin Gold from C$32.00 to C$43.00 in a research report on Friday, April 4th. Scotiabank increased their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Cibc World Mkts cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. TD Securities increased their price target on shares of Lundin Gold from C$46.00 to C$58.00 in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada increased their price target on shares of Lundin Gold from C$37.00 to C$42.00 in a research note on Friday, April 4th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of C$44.00.

Lundin Gold Price Performance

The company's 50 day moving average is C$50.10 and its 200 day moving average is C$39.88. The stock has a market cap of C$9.67 billion, a price-to-earnings ratio of 31.78 and a beta of 1.23.

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 dividend of $0.43 per share. This is an increase from Lundin Gold's previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a yield of 3.04%. The ex-dividend date was Tuesday, March 11th. Lundin Gold's dividend payout ratio (DPR) is 60.06%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 8,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of C$57.50, for a total transaction of C$460,000.00. Also, Director Ronald F. Hochstein sold 88,750 shares of the firm's stock in a transaction dated 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. In the last three months, insiders sold 141,150 shares of company stock worth $5,959,984. 58.72% of the stock is owned by corporate insiders.

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.