Lundin Gold Inc. (TSE:LUG) Director Sells C$3,675,732.13 in Stock

Lundin Gold Inc. (TSE:LUG) Director Ronald F. Hochstein sold 88,750 shares of the business’s stock in a transaction 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.

Lundin Gold Trading Down 0.9 %

LUG opened at C$39.86 on Friday. The firm has a market cap of C$6.80 billion, a price-to-earnings ratio of 22.37 and a beta of 1.23. Lundin Gold Inc. has a 12 month low of C$15.40 and a 12 month high of C$41.74. The stock has a fifty day moving average price of C$35.50 and a 200-day moving average price of C$32.34.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.32%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, March 11th. Lundin Gold’s payout ratio is presently 60.06%.

Analysts Set New Price Targets

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

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.