Canaccord Genuity Group Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its target price boosted by Canaccord Genuity Group from C$60.00 to C$78.00 in a report issued on Thursday morning,BayStreet.CA reports.

Several other analysts have also commented on LUG. Royal Bank Of Canada lifted their price target on shares of Lundin Gold from C$50.00 to C$54.00 in a research report on Wednesday, June 4th. Veritas downgraded shares of Lundin Gold from a “strong-buy” rating to a “strong sell” rating in a report on Monday, June 9th. TD Securities downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating and lifted their target price for the company from C$65.00 to C$73.00 in a report on Wednesday, July 16th. National Bankshares downgraded shares of Lundin Gold from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$67.75 to C$89.00 in a report on Tuesday, June 24th. Finally, Desjardins downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating and lifted their target price for the company from C$62.00 to C$70.00 in a report on Thursday, July 17th. Eleven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lundin Gold currently has a consensus rating of “Reduce” and a consensus target price of C$60.68.

Lundin Gold Stock Performance

LUG stock opened at C$91.31 on Thursday. The firm has a market cap of C$22.04 billion, a PE ratio of 35.95 and a beta of 1.15. The firm’s 50 day moving average price is C$81.86 and its 200-day moving average price is C$67.66. Lundin Gold has a one year low of C$29.41 and a one year high of C$97.67.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.0%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, September 10th. Lundin Gold’s payout ratio is presently 45.28%.

Insider Buying and Selling at Lundin Gold

In related news, insider Chester See sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the completion of the transaction, the insider owned 132,571 shares in the company, valued at approximately C$11,043,164.30. The trade was a 13.11% decrease in their ownership of the stock. Also, insider Sheila Margaret Colman sold 14,600 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$81.49, for a total transaction of C$1,189,754.00. Following the transaction, the insider owned 37,068 shares of the company’s stock, valued at approximately C$3,020,671.32. The trade was a 28.26% decrease in their position. 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.