Lundin Gold Inc. (TSE:LUG) Increases Dividend to $0.43 Per Share

Lundin Gold Inc. (TSE:LUG) declared a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Stockholders 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 annualized dividend and a dividend 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 Trading Up 6.1 %

TSE:LUG opened at C$43.50 on Friday. Lundin Gold has a 52 week low of C$16.77 and a 52 week high of C$43.69. The firm has a market capitalization of C$7.43 billion, a PE ratio of 24.42 and a beta of 1.23. The stock has a 50 day moving average of C$36.44 and a 200-day moving average of C$32.88.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LUG shares. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Royal Bank of Canada increased their price objective on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank increased their price objective on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. TD Securities increased their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, CIBC increased their price objective on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. 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 MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus price target of C$35.18.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 14,500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of C$40.40, for a total value of C$585,824.65. Also, Senior Officer Chester See sold 5,800 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total value of C$237,321.50. In the last 90 days, insiders sold 130,485 shares of company stock worth $5,267,105. Insiders own 58.72% of the company’s stock.

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.