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 stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60.

Lundin Gold Stock Up 2.2 %

Shares of Lundin Gold stock opened at C$29.43 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. Lundin Gold Inc. has a 12-month low of C$14.23 and a 12-month high of C$29.71. The company has a market cap of C$7.06 billion, a P/E ratio of 23.17 and a beta of 1.23. The company’s fifty day simple moving average is C$24.92 and its two-hundred day simple moving average is C$21.07.

Lundin Gold (TSE:LUG) last announced its quarterly 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). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The company had revenue of C$412.43 million for the quarter. Research analysts anticipate that Lundin Gold Inc. will post 2.5546059 EPS for the current year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th will be given a $0.551 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $2.20 annualized dividend and a dividend yield of 7.49%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio is currently 86.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LUG. National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. Royal Bank of Canada raised their price target on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. CIBC boosted their price objective on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Securities raised their target price on shares of Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group upped their price target on shares of Lundin Gold from C$26.00 to C$29.00 in a 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.com, the company currently has a consensus rating of “Buy” and an average price target of C$27.08.

About Lundin Gold

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.