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

Lundin Gold Inc. (TSE:LUG - Get Free Report) declared a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Shareholders 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 3.96%. 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 3.2 %

TSE:LUG traded up C$1.33 on Thursday, hitting C$43.47. 537,628 shares of the stock were exchanged, compared to its average volume of 403,530. The stock has a fifty day moving average of C$37.08 and a 200-day moving average of C$33.24. The stock has a market cap of C$7.42 billion, a PE ratio of 24.40 and a beta of 1.23. Lundin Gold has a fifty-two week low of C$17.06 and a fifty-two week high of C$43.94.

Analyst Upgrades and Downgrades

LUG has been the topic of a number of research reports. Royal Bank of Canada raised 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 note on Tuesday, February 11th. Jefferies Financial Group lowered Lundin Gold from a "buy" rating to a "hold" rating and lowered their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. CIBC boosted their price target on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. BMO Capital Markets downgraded shares of Lundin Gold from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 10th. Finally, Scotiabank lifted their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lundin Gold presently has an average rating of "Moderate Buy" and an average price target of C$35.18.

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Insiders Place Their Bets

In related news, Director Ronald F. Hochstein sold 88,750 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the business's stock in a transaction that occurred 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 a total of 144,685 shares of company stock valued at $5,854,985 in the last quarter. Insiders own 58.72% of the company's stock.

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.