Lundin Gold (TSE:LUG) Reaches New 52-Week High – What’s Next?

Lundin Gold Inc. (TSE:LUG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$127.35 and last traded at C$127.26, with a volume of 192114 shares. The stock had previously closed at C$118.97.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Securities upped their target price on shares of Lundin Gold from C$95.00 to C$114.00 in a research report on Thursday, January 22nd. Scotiabank lifted their price objective on Lundin Gold from C$70.00 to C$90.00 in a research report on Monday, January 26th. Jefferies Financial Group lifted their price objective on shares of Lundin Gold from C$96.00 to C$111.00 in a research report on Monday, December 8th. Cormark upped their price target on shares of Lundin Gold from C$100.00 to C$115.00 in a research note on Wednesday, January 14th. Finally, Canaccord Genuity Group upped their price target on shares of Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. Five 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.com, the stock has a consensus rating of “Reduce” and a consensus price target of C$93.25.

Lundin Gold Trading Up 5.1%

The firm has a market capitalization of C$30.23 billion, a PE ratio of 44.19 and a beta of 1.02. The firm’s fifty day moving average price is C$113.85 and its 200 day moving average price is C$102.85.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, February 19th. The company reported C$1.33 earnings per share for the quarter. Lundin Gold had a net margin of 29.56% and a return on equity of 29.88%. The firm had revenue of C$697.82 million for the quarter. On average, analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 22nd were given a dividend of $0.7058 per share. The ex-dividend date was Friday, December 5th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.68. This represents a $2.82 dividend on an annualized basis and a yield of 2.3%. Lundin Gold’s dividend payout ratio (DPR) is 61.48%.

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company’s board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.