Insider Selling: Lundin Gold Inc. (TSE:LUG) Director Sells 88,750 Shares of Stock

Lundin Gold Inc. (TSE:LUG - Get Free Report) Director Ronald F. Hochstein sold 88,750 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total transaction of C$3,675,732.13.

Lundin Gold Trading Down 2.3 %

Shares of Lundin Gold stock traded down C$0.92 during trading hours on Monday, reaching C$38.94. 442,302 shares of the company's stock were exchanged, compared to its average volume of 373,184. Lundin Gold Inc. has a 52-week low of C$16.31 and a 52-week high of C$41.74. The company has a fifty day moving average of C$35.50 and a 200-day moving average of C$32.45. The firm has a market capitalization of C$6.65 billion, a price-to-earnings ratio of 21.86 and a beta of 1.23.

Lundin Gold Increases Dividend

The firm also recently declared 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 represents a $1.72 dividend on an annualized basis and a yield of 4.42%. This is a positive change from Lundin Gold's previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, March 11th. Lundin Gold's dividend payout ratio (DPR) is presently 60.06%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LUG. BMO Capital Markets downgraded Lundin Gold from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 10th. Jefferies Financial Group lowered shares of Lundin Gold from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Scotiabank lifted their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Cormark downgraded shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, TD Securities raised their price objective on shares of Lundin Gold from C$40.00 to C$46.00 and gave the stock a "buy" rating in a research note on Thursday. Seven investment 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. According to MarketBeat, Lundin Gold currently has a consensus rating of "Moderate Buy" and a consensus price target 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.