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

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. Jefferies Financial Group upped their price target on Lundin Gold from C$82.00 to C$97.00 in a report on Friday, October 17th. Canaccord Genuity Group increased their price objective on Lundin Gold from C$103.00 to C$108.00 in a research report on Wednesday, November 12th. BMO Capital Markets boosted their target price on Lundin Gold from C$104.00 to C$108.00 in a research report on Monday, November 10th. Finally, CIBC upped their target price on shares of Lundin Gold from C$116.00 to C$123.00 in a research note on Thursday, November 13th. Ten investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of C$76.29.

Lundin Gold Stock Up 4.0%

The business’s fifty day moving average is C$97.35 and its 200-day moving average is C$80.42. The company has a market cap of C$26.15 billion, a PE ratio of 38.28 and a beta of 1.35.

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

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 25th were issued a $0.675 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $2.70 dividend on an annualized basis and a yield of 2.5%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.21. Lundin Gold’s payout ratio is 61.48%.

Insider Buying and Selling at Lundin Gold

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

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.