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

Lundin Gold Inc. (TSE:LUG) has received a consensus recommendation of “Reduce” from the twelve ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$64.50.

LUG has been the topic of a number of analyst reports. BMO Capital Markets raised their price target on Lundin Gold from C$93.00 to C$104.00 in a research note on Thursday. National Bankshares downgraded shares of Lundin Gold from an “outperform” rating to a “sector perform” rating and increased their target price for the company from C$67.75 to C$89.00 in a research report on Tuesday, June 24th. Canaccord Genuity Group lifted their price target on shares of Lundin Gold from C$60.00 to C$78.00 in a research note on Thursday, October 2nd. National Bank Financial lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 23rd. Finally, TD Securities lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating and lifted their price target for the stock from C$65.00 to C$73.00 in a research note on Wednesday, July 16th.

Lundin Gold Trading Down 2.9%

Shares of LUG opened at C$94.35 on Friday. Lundin Gold has a twelve month low of C$29.42 and a twelve month high of C$99.18. The firm’s fifty day simple moving average is C$84.83 and its 200-day simple moving average is C$69.39. The firm has a market capitalization of C$22.77 billion, a price-to-earnings ratio of 37.15 and a beta of 1.26.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.9%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, September 10th. Lundin Gold’s dividend payout ratio is presently 45.28%.

Insider Activity at Lundin Gold

In other news, insider Chester See sold 20,000 shares of Lundin Gold stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total value of C$1,666,000.00. Following the transaction, the insider directly owned 132,571 shares of the company’s stock, valued at C$11,043,164.30. The trade was a 13.11% decrease in their position. Also, insider Sheila Margaret Colman sold 14,600 shares of Lundin Gold stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total transaction of C$1,189,754.00. Following the completion of the transaction, the insider directly owned 37,068 shares in the company, valued at C$3,020,671.32. The trade was a 28.26% decrease in their ownership of the stock. Insiders own 58.72% of the company’s stock.

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.