Lundin Gold Inc. (TSE:LUG) Plans $0.20 Quarterly Dividend

Lundin Gold Inc. (TSE:LUG) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Thursday, December 5th will be paid a dividend of 0.20 per share on Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, December 5th.

Lundin Gold Stock Up 2.4 %

Shares of TSE LUG traded up C$0.76 during mid-day trading on Friday, reaching C$32.67. 308,100 shares of the company were exchanged, compared to its average volume of 274,795. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89. The firm has a 50-day moving average of C$30.83 and a 200 day moving average of C$24.79. The stock has a market cap of C$7.84 billion, a price-to-earnings ratio of 25.33 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 released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 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 firm had revenue of C$412.43 million for the quarter. On average, research analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LUG shares. National Bankshares increased their target price on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. TD Securities upped their target price on Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. CIBC raised their price target on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Scotiabank upped their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Finally, Cormark lifted their target price on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$29.42.

Insiders Place Their Bets

In related news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In related news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Senior Officer Terrence Smith sold 25,740 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. In the last ninety days, insiders sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is owned by insiders.

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.