Lundin Gold Inc. (LUG) to Issue Quarterly Dividend of $0.55 on September 25th

Lundin Gold Inc. (TSE:LUG) announced a quarterly dividend on Tuesday, September 10th, Zacks reports. Shareholders of record on Wednesday, September 25th will be given a dividend of 0.551 per share on Wednesday, September 25th. This represents a $2.20 annualized dividend and a yield of 8.52%. The ex-dividend date is Tuesday, September 10th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10.

Lundin Gold Stock Performance

LUG stock opened at C$25.86 on Friday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$28.26. The stock has a market capitalization of C$6.20 billion, a PE ratio of 20.36 and a beta of 1.23. The company has a 50 day moving average price of C$24.14 and a 200 day moving average price of C$20.68.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The business 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%. Analysts forecast that Lundin Gold will post 2.5546059 EPS for the current year.

Wall Street Analysts Forecast Growth

LUG has been the topic of a number of recent analyst reports. Raymond James lifted their price target on shares of Lundin Gold from C$21.00 to C$25.00 in a research report on Wednesday, July 31st. National Bank Financial upgraded Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. TD Securities increased their price target on Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Scotiabank lifted their price objective on Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Finally, Cormark boosted their price objective on Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$26.27.

Insider Buying and Selling at Lundin Gold

In related news, Senior Officer Chester See sold 30,100 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. Corporate insiders own 58.79% of the company’s stock.

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.