Lundin Gold (TSE:LUG) Reaches New 52-Week High – Still a Buy?

Lundin Gold Inc. (TSE:LUG) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$33.35 and last traded at C$33.11, with a volume of 250529 shares changing hands. The stock had previously closed at C$32.67.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LUG shares. Canaccord Genuity Group boosted their price target on Lundin Gold from C$27.50 to C$28.50 in a research note on Tuesday, August 20th. Jefferies Financial Group upped their target price on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities upped their target price on Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. CIBC upped their target price on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$28.50.

Lundin Gold Trading Up 1.0 %

The company has a market capitalization of C$7.96 billion, a price-to-earnings ratio of 25.71 and a beta of 1.23. The business has a fifty day moving average price of C$28.39 and a 200 day moving average price of C$23.19. 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 (TSE:LUG) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The business had revenue of C$412.43 million for the quarter. On average, equities analysts expect that Lundin Gold Inc. will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a $0.551 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.65%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 10th. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insider Activity at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Over the last ninety days, insiders sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is owned by corporate 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.