Lundin Gold (TSE:LUG) Reaches New 1-Year High – Should You Buy?

Lundin Gold Inc. (TSE:LUG)’s stock price reached a new 52-week high on Tuesday . The company traded as high as C$116.20 and last traded at C$115.15, with a volume of 1498307 shares changing hands. The stock had previously closed at C$107.00.

Analyst Upgrades and Downgrades

Several analysts have commented on LUG shares. Raymond James Financial lifted their target price on shares of Lundin Gold from C$65.00 to C$80.00 in a research note on Friday, October 10th. TD Securities downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating and lifted their price objective for the company from C$65.00 to C$73.00 in a research report on Wednesday, July 16th. Jefferies Financial Group upped their target price on Lundin Gold from C$82.00 to C$97.00 in a research note on Friday, October 17th. Canaccord Genuity Group increased their target price on Lundin Gold from C$60.00 to C$78.00 in a research report on Thursday, October 2nd. Finally, BMO Capital Markets lifted their price target on Lundin Gold from C$93.00 to C$104.00 in a report on Thursday, October 9th. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of C$72.88.

Lundin Gold Stock Performance

The firm has a market cap of C$23.25 billion, a PE ratio of 37.93 and a beta of 1.26. The stock has a fifty day moving average price of C$89.89 and a 200-day moving average price of C$72.98.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 25th were given a $0.675 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.21. This represents a $2.70 annualized dividend and a dividend yield of 2.8%. Lundin Gold’s dividend payout ratio (DPR) is currently 45.28%.

Insiders Place Their Bets

In other news, insider Chester See sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total value of C$1,666,000.00. Following the transaction, the insider owned 132,571 shares of the company’s stock, valued at approximately C$11,043,164.30. This trade represents a 13.11% decrease in their position. Also, insider Sheila Margaret Colman sold 14,600 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total value 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. This represents a 28.26% decrease in their ownership of the stock. Company insiders own 58.72% of the company’s stock.

About Lundin Gold

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.