Lundin Gold Inc. (TSE:LUG) Director Ian Gibbs Sells 14,200 Shares

Lundin Gold Inc. (TSE:LUG) Director Ian Gibbs sold 14,200 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of C$41.40, for a total value of C$587,880.00.

Lundin Gold Price Performance

TSE LUG traded up C$2.52 on Friday, reaching C$43.50. The stock had a trading volume of 826,313 shares, compared to its average volume of 388,809. The company has a market cap of C$7.43 billion, a P/E ratio of 24.42 and a beta of 1.23. Lundin Gold Inc. has a 1-year low of C$16.77 and a 1-year high of C$43.69. The firm has a fifty day moving average of C$36.44 and a two-hundred day moving average of C$32.88.

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th will be issued a dividend of $0.43 per share. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, March 11th. Lundin Gold’s dividend payout ratio is 60.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. CIBC upped their price objective on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Scotiabank upped their price objective on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Royal Bank of Canada upped their price objective on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities increased their price target on 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, Desjardins increased their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.