Lundin Gold (TSE:LUG) Given New C$46.00 Price Target at TD Securities

Lundin Gold (TSE:LUG) had its price objective increased by TD Securities from C$40.00 to C$46.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on LUG. Scotiabank upped their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Desjardins upped their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. CIBC increased their target price on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$35.18.

Lundin Gold Price Performance

LUG opened at C$40.22 on Thursday. The company has a market capitalization of C$6.87 billion, a P/E ratio of 22.58 and a beta of 1.23. The firm’s fifty day moving average price is C$35.14 and its two-hundred day moving average price is C$32.23. Lundin Gold has a fifty-two week low of C$15.32 and a fifty-two week high of C$41.74.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 60.06%.

Insider Activity

In related news, Director Ronald F. Hochstein sold 88,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, Director Pablo Mir sold 11,535 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Over the last ninety days, insiders sold 110,185 shares of company stock worth $4,443,959. 58.72% of the stock is owned by corporate insiders.

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.