Chester See Sells C$237,321.50 in Lundin Gold Stock

Lundin Gold Inc. (TSE:LUG) Senior Officer Chester See recently sold 5,800 shares of the company's stock on Friday, February 28th. The shares were sold at an average price of C$40.92, resulting in a total transaction value of C$237,321.50.

Lundin Gold Stock Performance

Following this transaction, Lundin Gold's shares experienced a modest decline of 0.9%, closing at C$39.86. The trading volume was notably higher than usual, with 789,650 shares exchanged compared to the average volume of 371,498 shares. The company's fifty-day moving average price stands at C$35.32, while the two-hundred-day moving average is C$32.29. Lundin Gold’s stock has fluctuated significantly in the past year, recording a fifty-two week low of C$15.40 and a high of C$41.74. Currently, the firm holds a market capitalization of C$6.80 billion, a price-to-earnings ratio of 22.37, and a beta of 1.23.

Dividend Increase Announcement

In addition to the share sale, Lundin Gold recently announced an increase in their quarterly dividend. Shareholders of record on March 26th will receive a dividend of C$0.43 per share, which marks a rise from the previous quarterly dividend of C$0.20. The ex-dividend date is set for March 11th, and the new dividend translates to an annualized payout of C$1.72 with a yield of 4.32%. The company's dividend payout ratio is currently at 60.06%.

Analyst Expectations

Several analysts have expressed positive outlooks on Lundin Gold's shares. TD Securities recently raised their price target for the stock from C$40.00 to C$46.00 and maintained a "buy" rating. Desjardins also increased their target from C$38.00 to C$42.00, maintaining a “buy” recommendation. Conversely, Cormark downgraded Lundin Gold from a "moderate buy" to a "hold" rating, while Jefferies Financial Group adjusted their rating from "buy" to "hold" and set a price target of C$36.00. Overall, among the analysts, seven recommend holding the stock, four suggest buying it, and one gives it a strong buy rating. The current consensus rating for the stock is "Moderate Buy" with a consensus price target of C$35.18.

About Lundin Gold

Lundin Gold Inc. operates in the mining sector and has interests in multiple mineral concessions throughout Canada. The company primarily focuses on the Fruta del Norte gold project, which is situated in southeast Ecuador. This project includes seven concessions spanning approximately 5,566 hectares near Loja, Ecuador.

Lundin, Gold, Stock