Lundin Gold Inc. (TSE:LUG) Receives Average Rating of “Reduce” from Analysts

Shares of Lundin Gold Inc. (TSE:LUG) have earned an average rating of “Reduce” from the thirteen research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and twelve have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$56.75.

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Lundin Gold from C$50.00 to C$54.00 in a report on Wednesday, June 4th. National Bank Financial downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 23rd. National Bankshares lowered shares of 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 research note on Tuesday, June 24th. Desjardins cut shares of Lundin Gold from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$62.00 to C$70.00 in a research report on Thursday, July 17th. Finally, BMO Capital Markets increased their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a research note on Friday, May 9th.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 15,000 shares of Lundin Gold stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of C$66.44, for a total transaction of C$996,550.50. Also, Senior Officer Terrence Smith sold 40,656 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total transaction of C$2,604,423.36. In the last three months, insiders sold 57,056 shares of company stock worth $3,706,044. 58.72% of the stock is owned by company insiders.

Lundin Gold Stock Up 2.4%

Shares of TSE:LUG opened at C$77.83 on Thursday. The firm has a market cap of C$13.29 billion, a price-to-earnings ratio of 43.69 and a beta of 1.23. Lundin Gold has a 12 month low of C$25.76 and a 12 month high of C$83.78. The company’s fifty day simple moving average is C$70.97 and its 200 day simple moving average is C$57.47.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, June 10th. Lundin Gold’s dividend payout ratio (DPR) is 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.