Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) shot up 6.7% during trading on Friday . The company traded as high as C$79.16 and last traded at C$79.01. 143,567 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 671,340 shares. The stock had previously closed at C$74.08.
Analysts Set New Price Targets
A number of research firms have recently weighed in on LUG. National Bankshares cut Lundin Gold from an "outperform" rating to a "sector perform" rating and lifted their price target for the company from C$67.75 to C$89.00 in a report on Tuesday, June 24th. BMO Capital Markets lifted their price target on Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. CIBC boosted their target price on Lundin Gold from C$44.00 to C$46.00 in a report on Thursday, April 17th. Desjardins cut Lundin Gold from a "moderate buy" rating to a "hold" rating and boosted their target price for the stock from C$62.00 to C$70.00 in a report on Thursday, July 17th. Finally, TD Securities cut Lundin Gold from a "strong-buy" rating to a "hold" rating and boosted their target price for the stock from C$65.00 to C$73.00 in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$54.18.
Get Our Latest Stock Report on LUG
Lundin Gold Price Performance
The company has a market cap of C$13.65 billion, a P/E ratio of 44.89 and a beta of 1.23. The company has a fifty day simple moving average of C$69.62 and a 200-day simple moving average of C$55.64.
Lundin Gold Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were issued a $0.2075 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.83 annualized dividend and a dividend yield of 1.0%. Lundin Gold's dividend payout ratio is currently 60.06%.
Insider Buying and Selling at Lundin Gold
In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 1,400 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$75.05, for a total value of C$105,070.00. Also, Senior Officer Terrence Smith sold 40,656 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total value of C$2,604,423.36. Over the last 90 days, insiders have sold 57,056 shares of company stock valued at $3,706,044. Corporate insiders own 58.72% of the company's stock.
Lundin Gold Company Profile
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Get Free Report)
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.
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