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

Lundin Gold Inc. (TSE:LUG) announced a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Stockholders of record on Wednesday, March 26th will be paid a dividend of 0.43 per share on Wednesday, March 26th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date 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 %

LUG stock opened at C$43.50 on Friday. The stock has a 50-day moving average price of C$36.44 and a two-hundred day moving average price of C$32.88. Lundin Gold has a 12-month low of C$16.77 and a 12-month high of C$43.69. The company has a market cap of C$7.43 billion, a PE ratio of 24.42 and a beta of 1.23.

Insider Buying and Selling

In related news, Director Pablo Mir sold 11,535 shares of the business’s 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. Also, Senior Officer Sheila Margaret Colman sold 14,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of C$40.40, for a total value of C$585,824.65. Over the last 90 days, insiders have sold 130,485 shares of company stock worth $5,267,105. 58.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LUG has been the subject of a number of research reports. Desjardins boosted their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and lowered their price target for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Royal Bank of Canada boosted their price target on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, TD Securities boosted their price target on Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Seven 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 company. According to MarketBeat, Lundin Gold 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.