Lundin Gold Inc. (TSE:LUG) Declares Dividend Increase – $0.43 Per Share

Lundin Gold Inc. (TSE:LUG) announced a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Shareholders of record on Wednesday, March 26th will be given a dividend of 0.43 per share on Wednesday, March 26th. This represents a $1.72 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a 115.0% increase from Lundin Gold’s previous quarterly dividend of $0.20.

Lundin Gold Stock Performance

LUG stock opened at C$43.50 on Friday. The stock has a market capitalization of C$7.43 billion, a price-to-earnings ratio of 24.42 and a beta of 1.23. Lundin Gold has a 1 year low of C$16.77 and a 1 year high of C$43.69. The stock’s fifty day moving average is C$36.44 and its two-hundred day moving average is C$32.88.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cormark cut shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 20th. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Jefferies Financial Group cut shares of Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. TD Securities lifted their price objective on shares of 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. Finally, Scotiabank lifted their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$35.18.

Insiders Place Their Bets

In related news, Senior Officer Chester See sold 5,800 shares of Lundin Gold stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$40.92, for a total value of C$237,321.50. Also, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Over the last three months, insiders have sold 130,485 shares of company stock worth $5,267,105. 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.