Lundin Gold (TSE:LUG) Reaches New 52-Week High – Here’s What Happened

Lundin Gold Inc. (TSE:LUG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$38.00 and last traded at C$37.64, with a volume of 288777 shares. The stock had previously closed at C$36.75.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Scotiabank boosted their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. CIBC boosted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Cormark upgraded Lundin Gold from a “market perform” rating to a “buy” rating and lifted their price target for the company from C$35.00 to C$38.00 in a report on Friday, January 10th. Finally, BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$33.30.

Lundin Gold Stock Up 0.9 %

The company has a market capitalization of C$9.57 billion, a price-to-earnings ratio of 30.91 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The business’s 50 day moving average is C$33.30 and its 200 day moving average is C$30.51.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping the consensus estimate 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 during the quarter. Sell-side analysts anticipate that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.01%. Lundin Gold’s dividend payout ratio is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Company 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.