Lundin Gold Inc. (TSE:LUG) Raises 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 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 Stock Up 6.1 %

Shares of LUG stock opened at C$43.50 on Friday. Lundin Gold has a 12 month low of C$16.77 and a 12 month high of C$43.69. The firm has a market cap 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.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Senior Officer Chester See sold 5,800 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$40.92, for a total value of C$237,321.50. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total value of C$413,226.00. Insiders have sold 130,485 shares of company stock worth $5,267,105 over the last three months. Company insiders own 58.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on LUG shares. TD Securities upped their price target 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. Cormark lowered Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. Desjardins upped their price target on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their price objective 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. Finally, CIBC boosted their price objective on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$35.18.

About Lundin Gold

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.