Lundin Gold Inc. (TSE:LUG) Senior Officer Sells C$459,913.60 in Stock

Lundin Gold Inc. (TSE:LUG) Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60.

Lundin Gold Stock Performance

Shares of TSE LUG opened at C$29.43 on Friday. The firm’s 50-day moving average price is C$24.92 and its 200-day moving average price is C$21.07. Lundin Gold Inc. has a 52-week low of C$14.23 and a 52-week high of C$29.71. The company has a market cap of C$7.06 billion, a PE ratio of 23.17 and a beta of 1.23. 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 issued its earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, analysts anticipate that Lundin Gold Inc. will post 2.5546059 EPS for the current year.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th will be given a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 7.49%. The ex-dividend date is Tuesday, September 10th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio is 86.61%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LUG shares. National Bank Financial upgraded Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. Raymond James increased their target price on Lundin Gold from C$21.00 to C$25.00 in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their price target on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. Jefferies Financial Group increased their price objective on shares of Lundin Gold from C$26.00 to C$29.00 in a research report on Monday, September 9th. Finally, Scotiabank lifted their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$27.08.

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.