Lundin Gold (TSE:LUG) Hits New 12-Month High – Here’s What Happened

Lundin Gold Inc. (TSE:LUG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$36.08 and last traded at C$35.99, with a volume of 77480 shares trading hands. The stock had previously closed at C$34.99.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank boosted their price objective on Lundin Gold from C$30.00 to C$31.50 in a research note 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. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their target price on Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th. Five investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$33.30.

Lundin Gold Stock Up 0.9 %

The company has a 50 day moving average price of C$32.27 and a two-hundred day moving average price of C$29.39. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The stock has a market cap of C$8.48 billion, a PE ratio of 27.37 and a beta of 1.23.

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

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, December 5th. Lundin Gold’s payout ratio is currently 82.95%.

Insider Buying and Selling

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is currently owned by corporate 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.