Lundin Gold Inc. (TSE:LUG) Announces Quarterly Dividend of $0.20

Lundin Gold Inc. (TSE:LUG) announced a quarterly dividend on Thursday, December 5th,Zacks Dividends reports. Shareholders of record on Friday, December 20th will be given a dividend of 0.20 per share on Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, December 5th.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$33.16 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a fifty day moving average of C$32.07 and a 200 day moving average of C$26.28. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The firm has a market capitalization of C$7.96 billion, a price-to-earnings ratio of 25.71 and a beta of 1.23.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, research analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Insiders sold 72,840 shares of company stock worth $2,146,122 in the last 90 days. 58.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LUG. Royal Bank of Canada increased their target price on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. CIBC increased their price target on Lundin Gold from C$34.00 to C$41.00 in a report on Monday. National Bankshares lifted their target price on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Scotiabank increased their price target on shares of Lundin Gold from C$25.50 to C$31.50 in a research report on Thursday, November 21st. Finally, Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$30.50.

Lundin Gold Company Profile

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.