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

Lundin Gold Inc. (TSE:LUGGet Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as C$116.20 and last traded at C$115.15, with a volume of 1498307 shares trading hands. The stock had previously closed at C$107.00.

Analyst Upgrades and Downgrades

Several analysts have commented on LUG shares. JPMorgan Chase & Co. boosted their target price on shares of Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. National Bank Financial cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, June 23rd. CIBC raised their target price on Lundin Gold from C$85.00 to C$116.00 in a report on Friday, October 10th. BMO Capital Markets boosted their price target on Lundin Gold from C$93.00 to C$104.00 in a research report on Thursday, October 9th. Finally, Canaccord Genuity Group increased their price objective on Lundin Gold from C$60.00 to C$78.00 in a report on Thursday, October 2nd. Eleven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of C$72.88.

Get Our Latest Stock Report on Lundin Gold

Lundin Gold Trading Up 7.6%

The stock has a market cap of C$27.79 billion, a P/E ratio of 45.33 and a beta of 1.26. The firm’s fifty day moving average is C$89.17 and its 200 day moving average is C$72.64.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were given a $0.675 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $2.70 annualized dividend and a yield of 2.3%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.21. Lundin Gold’s dividend payout ratio (DPR) is presently 45.28%.

Insider Activity at Lundin Gold

In related news, insider Chester See sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the completion of the transaction, the insider directly owned 132,571 shares in the company, valued at C$11,043,164.30. This represents a 13.11% decrease in their position. Also, insider Sheila Margaret Colman sold 14,600 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total transaction of C$1,189,754.00. Following the completion of the sale, the insider directly owned 37,068 shares of the company’s stock, valued at approximately C$3,020,671.32. This trade represents a 28.26% decrease in their ownership of the stock. 58.72% of the stock is currently owned by corporate insiders.

About Lundin Gold

(Get Free Report)

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.

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