Lundin Gold Inc. (TSE:LUG) Director Ronald F. Hochstein Sells 16,200 Shares

Lundin Gold Inc. (TSE:LUG) Director Ronald F. Hochstein sold 16,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90.

Lundin Gold Stock Performance

Shares of LUG traded down C$0.09 during midday trading on Tuesday, reaching C$29.34. 118,531 shares of the stock were exchanged, compared to its average volume of 256,755. The stock’s 50 day simple moving average is C$25.07 and its 200 day simple moving average is C$21.25. The company has a market cap of C$7.04 billion, a P/E ratio of 22.99 and a beta of 1.23. Lundin Gold Inc. has a twelve month low of C$14.23 and a twelve month high of C$29.73. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The business had revenue of C$412.43 million during the quarter. On average, sell-side analysts expect that Lundin Gold Inc. will post 2.5613577 earnings per share for the current year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th will be paid a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date is Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) is 85.16%.

Analyst Ratings Changes

LUG has been the topic of several analyst reports. Scotiabank upped their price target on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. National Bankshares lifted their price target on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. CIBC raised their price objective on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada boosted their target price on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Finally, TD Securities raised their price target on Lundin Gold from C$24.00 to C$27.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lundin Gold presently has a consensus rating of “Buy” and an average price target of C$27.08.

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.