Insider Selling: Lundin Gold Inc. (TSE:LUG) Director Sells 16,200 Shares of Stock

Lundin Gold Inc. (TSE:LUG) Director Ronald F. Hochstein sold 16,200 shares of the firm’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 transaction of C$477,891.90.

Lundin Gold Trading Down 2.6 %

Shares of LUG stock opened at C$28.52 on Thursday. The company has a market capitalization of C$6.84 billion, a P/E ratio of 22.28 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The business’s 50 day moving average is C$25.34 and its two-hundred day moving average is C$21.39. Lundin Gold Inc. has a twelve month low of C$14.23 and a twelve month high of C$29.73.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Equities analysts forecast that Lundin Gold Inc. will post 2.5613577 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 $0.551 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.20 dividend on an annualized basis and a yield of 7.73%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) is presently 85.16%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. Canaccord Genuity Group lifted their target price on Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. National Bankshares boosted their target price on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. TD Securities raised their price target on Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their price target on Lundin Gold from C$26.00 to C$29.00 in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lundin Gold has an average rating of “Buy” and an average target price 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.