Royal Bank of Canada Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its target price hoisted by Royal Bank of Canada from C$37.00 to C$42.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Several other research analysts have also weighed in on LUG. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Cibc World Mkts downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Desjardins boosted their target price on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Cormark downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Scotiabank lifted their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$38.18.

Lundin Gold Stock Down 8.0 %

TSE:LUG opened at C$41.75 on Friday. The company has a market cap of C$7.13 billion, a P/E ratio of 23.44 and a beta of 1.23. The firm’s 50 day moving average is C$40.55 and its two-hundred day moving average is C$35.18. Lundin Gold has a fifty-two week low of C$18.08 and a fifty-two week high of C$45.82.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th were given a $0.43 dividend. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, March 11th. This represents a $1.72 annualized dividend and a yield of 4.12%. Lundin Gold’s dividend payout ratio (DPR) is 60.06%.

Insider Activity

In related news, Director Ronald F. Hochstein sold 88,750 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total transaction of C$413,226.00. Insiders have sold 144,685 shares of company stock worth $5,854,985 over the last 90 days. 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.