Lundin Gold (TSE:LUG) Insider Sells C$1,666,000.00 in Stock

Key Points

• Chester See, an insider at Lundin Gold Inc., sold 20,000 shares at an average price of C$83.30, reducing their position by 13.11%.
• Lundin Gold recently announced a quarterly dividend increase to $0.675, with a dividend yield of 2.9% and a payout ratio of 45.28%.
• Several analysts have downgraded Lundin Gold's stock ratings, with a consensus price target now at C$58.95, indicating a cautious outlook compared to previous projections.

Lundin Gold Inc. (TSE:LUG - Get Free Report) insider Chester See sold 20,000 shares of Lundin Gold stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$83.30, for a total value of C$1,666,000.00. Following the sale, the insider owned 132,571 shares in the company, valued at C$11,043,164.30. This trade represents a 13.11% decrease in their ownership of the stock.

Lundin Gold Stock Down 4.4%

Lundin Gold stock traded down C$4.08 during mid-day trading on Friday, reaching C$88.14. 963,308 shares of the company's stock were exchanged, compared to its average volume of 694,165. The firm has a market capitalization of C$21.27 billion, a PE ratio of 34.70 and a beta of 1.15. The business's fifty day simple moving average is C$76.09 and its 200 day simple moving average is C$63.30. Lundin Gold Inc. has a one year low of C$28.43 and a one year high of C$97.67.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 25th will be given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.1%. This is a boost from Lundin Gold's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, September 10th. Lundin Gold's dividend payout ratio (DPR) is presently 45.28%.

Wall Street Analysts Forecast Growth

LUG has been the subject of several recent research reports. National Bankshares cut Lundin Gold from an "outperform" rating to a "sector perform" rating and lifted their price target for the company from C$67.75 to C$89.00 in a research report on Tuesday, June 24th. TD Securities lowered Lundin Gold from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from C$65.00 to C$73.00 in a research note on Wednesday, July 16th. Royal Bank Of Canada lifted their price target on Lundin Gold from C$50.00 to C$54.00 in a research note on Wednesday, June 4th. Veritas cut Lundin Gold from a "strong-buy" rating to a "strong sell" rating in a report on Monday, June 9th. Finally, Raymond James Financial upped their price target on Lundin Gold from C$53.00 to C$65.00 in a research report on Thursday, August 21st. Twelve research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lundin Gold currently has a consensus rating of "Reduce" and a consensus target price of C$58.95.

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.