Lundin Gold (TSE:LUG) Hits New 1-Year High – Still a Buy?

Shares of Lundin Gold Inc. (TSE:LUG) reached 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 trading hands. The stock had previously closed at C$32.67.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LUG. TD Securities boosted their target price on shares of Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. National Bankshares upped their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group raised their price objective on Lundin Gold from C$29.00 to C$35.00 in a research note on Friday, October 4th. Royal Bank of Canada boosted their target price on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. Finally, CIBC raised their price target 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. Three equities research 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$28.33.

Lundin Gold Price Performance

The stock’s 50 day moving average price is C$27.78 and its 200-day moving average price is C$22.93. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a market capitalization of C$7.95 billion, a PE ratio of 25.67 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its 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). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, equities analysts forecast that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.551 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 6.66%. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

Insiders Place Their Bets

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s 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. In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. In the last ninety days, insiders sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Company Profile

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.