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

Lundin Gold Inc. (TSE:LUG) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$118.75 and last traded at C$118.00, with a volume of 62907 shares. The stock had previously closed at C$114.42.

Analyst Ratings Changes

A number of equities analysts recently commented on LUG shares. CIBC lifted their price objective on Lundin Gold from C$116.00 to C$123.00 in a research note on Thursday, November 13th. Raymond James Financial lifted their target price on shares of Lundin Gold from C$65.00 to C$80.00 in a research note on Friday, October 10th. JPMorgan Chase & Co. upped their price target on shares of Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. Jefferies Financial Group boosted their price objective on Lundin Gold from C$82.00 to C$97.00 in a research note on Friday, October 17th. Finally, Canaccord Genuity Group lifted their target price on Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of C$76.29.

Lundin Gold Stock Up 2.5%

The stock has a market cap of C$28.31 billion, a price-to-earnings ratio of 41.44 and a beta of 1.35. The stock has a 50 day simple moving average of C$96.71 and a 200 day simple moving average of C$80.02.

Lundin Gold (TSE:LUG) last issued its earnings results on Friday, November 7th. The company reported C$0.86 earnings per share (EPS) for the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.The company had revenue of C$622.58 million for the quarter. Equities analysts expect that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, September 10th. Lundin Gold’s payout ratio is 61.48%.

Insider Activity

In related news, insider Chester See sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total value of C$1,666,000.00. Following the sale, the insider 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 firm’s stock in a transaction dated 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 transaction, the insider directly owned 37,068 shares in the company, valued at approximately C$3,020,671.32. The trade was a 28.26% decrease in their position. Insiders own 58.72% of the company’s stock.

About Lundin Gold

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.