Lundin Gold Inc. (TSE:LUG) Senior Officer Sells C$237,321.50 in Stock

Lundin Gold Inc. (TSE:LUG) Senior Officer Chester See sold 5,800 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$40.92, for a total value of C$237,321.50.

Lundin Gold Price Performance

Shares of LUG stock opened at C$39.86 on Friday. The company’s 50-day simple moving average is C$35.32 and its two-hundred day simple moving average is C$32.29. Lundin Gold Inc. has a one year low of C$15.40 and a one year high of C$41.74. The company has a market capitalization of C$6.80 billion, a P/E ratio of 22.37 and a beta of 1.23.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th will be given a dividend of $0.43 per share. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.72 dividend on an annualized basis and a yield of 4.32%. Lundin Gold’s dividend payout ratio is presently 60.06%.

Wall Street Analysts Forecast Growth

LUG has been the topic of several recent research reports. CIBC raised their price objective on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Desjardins lifted their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Scotiabank raised their target price on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Finally, TD Securities boosted their target price on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research note on Thursday. Seven equities research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.