Ronald F. Hochstein Sells 88,750 Shares of Lundin Gold Inc. (TSE:LUG) Stock

Lundin Gold Inc. (TSE:LUG) Director Ronald F. Hochstein sold 88,750 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total value of C$3,675,732.13.

Lundin Gold Stock Down 0.9 %

Lundin Gold stock opened at C$39.86 on Friday. The firm has a market cap of C$6.80 billion, a price-to-earnings ratio of 22.37 and a beta of 1.23. Lundin Gold Inc. has a 52 week low of C$15.40 and a 52 week high of C$41.74. The business’s 50-day moving average price is C$35.32 and its 200 day moving average price is C$32.29.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th will be given a dividend of $0.43 per share. 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 4.32%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. Lundin Gold’s dividend payout ratio is currently 60.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LUG shares. TD Securities increased 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. Desjardins increased their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a report on Thursday, February 13th. CIBC increased their price objective on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Cormark lowered Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.