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

Lundin Gold Inc. (TSE:LUG) declared a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Shareholders of record on Wednesday, March 26th will be given a dividend of 0.43 per share on Wednesday, March 26th. This represents a $1.72 dividend on an annualized basis and a 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 Performance

Lundin Gold stock opened at C$43.50 on Friday. The firm has a market cap of C$7.43 billion, a P/E ratio of 24.42 and a beta of 1.23. The business’s fifty day moving average is C$36.44 and its two-hundred day moving average is C$32.88. Lundin Gold has a 52 week low of C$16.77 and a 52 week high of C$43.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LUG shares. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Scotiabank boosted their target price on Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. CIBC boosted their target price on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Desjardins boosted their target price 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. Finally, TD Securities upped their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average target price of C$35.18.

Insider Transactions at Lundin Gold

In related news, Senior Officer Chester See sold 5,800 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the 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 sold 130,485 shares of company stock valued at $5,267,105 over the last three months. Company insiders own 58.72% of the company’s stock.

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.