Lundin Gold Inc. (TSE:LUG) Increases Dividend to $0.55 Per Share

Lundin Gold Inc. (TSE:LUG) declared a quarterly dividend on Tuesday, September 10th, Zacks reports. Investors of record on Wednesday, September 25th will be given a dividend of 0.551 per share on Wednesday, September 25th. This represents a $2.20 dividend on an annualized basis and a yield of 8.52%. The ex-dividend date is Tuesday, September 10th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10.

Lundin Gold Stock Down 3.9 %

Lundin Gold stock opened at C$25.86 on Friday. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$28.26. The stock has a market capitalization of C$6.20 billion, a PE ratio of 20.36 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The business has a 50 day simple moving average of C$24.14 and a 200-day simple moving average of C$20.68.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. On average, analysts anticipate that Lundin Gold will post 2.5546059 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LUG. National Bankshares boosted their target price on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group boosted their price objective on Lundin Gold from C$24.00 to C$26.00 in a research report on Friday, July 12th. Raymond James raised their target price on shares of Lundin Gold from C$21.00 to C$25.00 in a report on Wednesday, July 31st. Cormark boosted their price target on shares of Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. Finally, Canaccord Genuity Group raised their price objective on shares of Lundin Gold from C$27.50 to C$28.50 in a report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold presently has an average rating of “Buy” and a consensus price target of C$26.27.

Insider Buying and Selling

In other news, Senior Officer Chester See sold 30,100 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$20.27, for a total value of C$610,253.42. 58.79% of the stock is currently owned by corporate insiders.

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.