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 the stock in a transaction dated 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 Performance

Lundin Gold stock opened at C$40.23 on Tuesday. Lundin Gold Inc. has a 52-week low of C$16.77 and a 52-week high of C$43.69. The firm has a 50 day moving average price of C$36.44 and a two-hundred day moving average price of C$32.96. The firm has a market cap of C$6.87 billion, a price-to-earnings ratio of 22.58 and a beta of 1.23.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th will be issued a dividend of $0.43 per share. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.72 annualized dividend and a yield of 4.28%. Lundin Gold’s dividend payout ratio (DPR) is presently 60.06%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Desjardins increased their target price on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group cut shares of Lundin Gold from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Scotiabank increased their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Finally, TD Securities increased their target price on shares of Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.