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

Lundin Gold Inc. (TSE:LUG) Director Ian Gibbs sold 14,200 shares of Lundin Gold stock in a transaction dated 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 Stock Up 6.1 %

Shares of LUG traded up C$2.52 on Friday, hitting C$43.50. The company’s stock had a trading volume of 826,313 shares, compared to its average volume of 388,809. The firm’s fifty day moving average price is C$36.44 and its 200-day moving average price is C$32.88. Lundin Gold Inc. has a fifty-two week low of C$16.77 and a fifty-two week high of C$43.69. The firm 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th will be paid a $0.43 dividend. 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 annualized dividend and a yield of 3.95%. Lundin Gold’s payout ratio is presently 60.06%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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 report on Thursday, February 27th. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Desjardins boosted their target price 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. Cormark lowered Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada boosted their target price on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.