Lundin Gold Inc. (LUG) to Issue Quarterly Dividend of $0.43 on March 26th

Lundin Gold Inc. (TSE:LUG) announced a quarterly dividend on Tuesday, March 11th, TickerTech Dividends reports. Stockholders of record on Wednesday, March 26th will be given a dividend of 0.43 per share on Wednesday, March 26th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Tuesday, March 11th. This is a 115.0% increase from Lundin Gold’s previous quarterly dividend of $0.20.

Lundin Gold Price Performance

LUG opened at C$43.50 on Friday. The business has a 50-day moving average of C$36.44 and a 200-day moving average of C$32.88. Lundin Gold has a fifty-two week low of C$16.77 and a fifty-two week high of C$43.69. The company has a market capitalization of C$7.43 billion, a PE ratio of 24.42 and a beta of 1.23.

Insider Transactions at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total value of C$413,226.00. Also, Senior Officer Chester See sold 5,800 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total value of C$237,321.50. In the last quarter, insiders have sold 130,485 shares of company stock valued at $5,267,105. 58.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LUG. Scotiabank raised their price objective on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Royal Bank of Canada raised their price objective 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. Desjardins raised their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Finally, Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lundin Gold 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.