Pablo Mir Sells 8,000 Shares of Lundin Gold Inc. (TSE:LUG) Stock

Lundin Gold Inc. (TSE:LUG) Director Pablo Mir sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of C$57.50, for a total transaction of C$460,000.00.

Lundin Gold Stock Performance

Shares of TSE LUG opened at C$57.84 on Wednesday. Lundin Gold Inc. has a 52-week low of C$18.48 and a 52-week high of C$67.80. The firm has a 50 day moving average price of C$49.87 and a two-hundred day moving average price of C$39.77. The stock has a market cap of C$9.87 billion, a P/E ratio of 32.47 and a beta of 1.23.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a dividend yield of 2.97%. Lundin Gold’s dividend payout ratio is 60.06%.

Wall Street Analysts Forecast Growth

LUG has been the subject of several research reports. BMO Capital Markets increased their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a research note on Friday, May 9th. Scotiabank increased their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Cormark downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. TD Securities upped their price target on shares of Lundin Gold from C$46.00 to C$58.00 in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada upped their price target on shares of Lundin Gold from C$37.00 to C$42.00 in a research report on Friday, April 4th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$44.00.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.