Lundin Gold (TSE:LUG) Reaches New 12-Month High – Here’s Why

Lundin Gold Inc. (TSE:LUG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$33.35 and last traded at C$33.11, with a volume of 250529 shares traded. The stock had previously closed at C$32.67.

Wall Street Analyst Weigh In

Several research firms recently commented on LUG. National Bank Financial upgraded shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. National Bankshares increased their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Jefferies Financial Group upped their target price on Lundin Gold from C$29.00 to C$35.00 in a research report on Friday, October 4th. CIBC increased their price target on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Scotiabank boosted their price target on Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$28.33.

Lundin Gold Price Performance

The stock has a fifty day moving average of C$27.78 and a 200 day moving average of C$22.93. The stock has a market cap of C$7.95 billion, a price-to-earnings ratio of 25.67 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The business had revenue of C$412.43 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. On average, analysts expect that Lundin Gold Inc. will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a dividend of $0.551 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend was Tuesday, September 10th. Lundin Gold’s dividend payout ratio (DPR) is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. In the last quarter, insiders sold 72,840 shares of company stock worth $2,146,122. Insiders own 58.72% of the company’s stock.

About Lundin Gold

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.