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

Lundin Gold Inc. (TSE:LUG)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$75.19 and last traded at C$74.74, with a volume of 168326 shares changing hands. The stock had previously closed at C$72.73.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LUG shares. Royal Bank Of Canada increased their price target on shares of Lundin Gold from C$50.00 to C$54.00 in a research report on Wednesday, June 4th. Jefferies Financial Group upped their price objective on shares of Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. CIBC lifted their target price on shares of Lundin Gold from C$44.00 to C$46.00 in a research note on Thursday, April 17th. TD Securities upped their price target on shares of Lundin Gold from C$58.00 to C$65.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Finally, National Bankshares increased their price objective on Lundin Gold from C$66.50 to C$67.75 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$48.98.

Lundin Gold Stock Performance

The firm has a market cap of C$12.53 billion, a price-to-earnings ratio of 41.20 and a beta of 1.23. The firm’s 50 day moving average is C$62.52 and its 200-day moving average is C$46.46.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, June 10th. Lundin Gold’s payout ratio is 60.06%.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of C$66.44, for a total value of C$996,550.50. Also, Senior Officer Terrence Smith sold 40,656 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total transaction of C$2,604,423.36. Insiders have sold a total of 63,656 shares of company stock worth $4,060,974 over the last three months. Corporate insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

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.