I'm still waiting for the super overpowered princess's ability to shine. Unfortunately, it'd probably demand too much brain power from the author to fully utilize....
So much effort yet amateur mistake: The PKM is a Soviet/Chinese machine gun that uses the 7.62x54R cartridge (the same as the Dragunov AND the Mosin Nagant), not the NATO 7.62x51 (308 win).
Magic. Most magic systems have spells to be completely immune to any projectile. Or perfectly reflect them.
Apparently this guy's layered two high-level spells to make himself superhumanly fast, strong, and resilient - and is likely using heightened senses on top of naturally high beastman senses to predict and/or juke Lute's aim. If you aren't faster than a bullet, be faster than the shooter. Just needs to hold out long enough to close distance and let experience take care of the rest.
@Kayriel that's still mentally impossible, if he wasn't using an automatic weapon then maybe, but against a supposed AK it isn't possible to dodge all bullets.