Raymond James Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG) had its target price increased by Raymond James from C$32.00 to C$43.00 in a report issued on Friday morning,BayStreet.CA reports.

LUG has been the topic of several other research reports. TD Securities upped their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group increased their price target on Lundin Gold from C$36.00 to C$45.00 in a research note on Friday. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Scotiabank increased their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada lifted their target price on shares of Lundin Gold from C$37.00 to C$42.00 in a report on Friday. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$38.18.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$41.75 on Friday. Lundin Gold has a 52-week low of C$18.08 and a 52-week high of C$45.82. The stock has a market cap of C$7.13 billion, a price-to-earnings ratio of 23.44 and a beta of 1.23. The firm’s 50-day moving average is C$40.55 and its 200-day moving average is C$35.18.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, March 11th. Lundin Gold’s dividend payout ratio (DPR) is currently 60.06%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of Lundin Gold stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, Director Ian Gibbs sold 14,200 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total value of C$587,880.00. Insiders sold 144,685 shares of company stock valued at $5,854,985 in the last quarter. Company insiders own 58.72% of the company’s stock.

About Lundin Gold

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.