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

Lundin Gold Inc. (TSE:LUG - Get Free Report) Director Ian Gibbs sold 14,200 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total transaction of C$587,880.00.

Lundin Gold Trading Up 4.6 %

LUG stock traded up C$1.85 during midday trading on Tuesday, hitting C$41.65. The company had a trading volume of 147,530 shares, compared to its average volume of 389,117. The stock has a market cap of C$7.11 billion, a price-to-earnings ratio of 23.38 and a beta of 1.23. Lundin Gold Inc. has a 52 week low of C$16.77 and a 52 week high of C$43.69. The stock's 50 day moving average price is C$36.63 and its 200 day moving average price is C$33.04.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th will be given a dividend of $0.43 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.72 annualized dividend and a yield of 4.13%. This is a boost from Lundin Gold's previous quarterly dividend of $0.20. Lundin Gold's dividend payout ratio is presently 60.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LUG shares. Desjardins increased their price objective 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. Jefferies Financial Group downgraded Lundin Gold from a "buy" rating to a "hold" rating and dropped their price target for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. CIBC upped their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Royal Bank of Canada lifted their target price on shares of 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, Scotiabank increased their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lundin Gold has a consensus rating of "Moderate Buy" and an average target price of C$35.18.

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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.