Lundin Gold (TSE:LUG) Reaches New 12-Month High – Time to Buy?

Shares of Lundin Gold Inc. (TSE:LUG) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$36.47 and last traded at C$36.38, with a volume of 208749 shares trading hands. The stock had previously closed at C$34.39.

Analysts Set New Price Targets

Several analysts have weighed in on LUG shares. TD Securities upped their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Scotiabank raised their price target on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold has an average rating of “Moderate Buy” and an average target price of C$33.30.

Lundin Gold Stock Performance

The stock’s 50 day moving average is C$32.83 and its two-hundred day moving average is C$30.02. The stock has a market capitalization of C$8.75 billion, a price-to-earnings ratio of 28.25 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The business had revenue of C$440.77 million for the quarter. Analysts expect that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. Lundin Gold’s dividend payout ratio is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In related news, Director Pablo Mir sold 11,535 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total transaction of C$355,001.16. Corporate insiders own 58.72% of the company’s stock.

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.