Ian Gibbs Sells 14,200 Shares of Lundin Gold Inc. (TSE:LUG) 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 shares were sold at an average price of C$41.40, for a total transaction of C$587,880.00.

Lundin Gold Trading Up 3.7 %

TSE:LUG opened at C$41.72 on Wednesday. The stock has a market capitalization of C$7.12 billion, a P/E ratio of 23.42 and a beta of 1.23. Lundin Gold Inc. has a 1 year low of C$16.77 and a 1 year high of C$43.69. The firm has a 50 day moving average of C$36.63 and a 200-day moving average of C$33.04.

Lundin Gold Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.72 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. Lundin Gold’s payout ratio is currently 60.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Cormark downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. TD Securities lifted their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Royal Bank of Canada boosted their price target on 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. Finally, Scotiabank lifted their price objective on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Seven 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.