Insider Selling: Lundin Gold Inc. (TSE:LUG) Director Sells C$587,880.00 in Stock

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

Lundin Gold Stock Up 3.7 %

LUG stock opened at C$41.72 on Wednesday. The firm has a 50 day moving average of C$36.63 and a two-hundred day moving average of C$33.04. Lundin Gold Inc. has a 12 month low of C$16.77 and a 12 month high of C$43.69. The company has a market capitalization of C$7.12 billion, a price-to-earnings ratio of 23.42 and a beta of 1.23.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th will be issued a $0.43 dividend. The ex-dividend date is Tuesday, March 11th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 dividend on an annualized basis and a yield of 4.12%. Lundin Gold’s dividend payout ratio is currently 60.06%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LUG shares. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. TD Securities increased their price target on shares of Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Scotiabank boosted their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Finally, CIBC upped their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$35.18.

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.