Lundin Gold (TSE:LUG) Sets New 1-Year High – Still a Buy?

Lundin Gold Inc. (TSE:LUG)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$38.00 and last traded at C$37.64, with a volume of 288777 shares changing hands. The stock had previously closed at C$36.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LUG. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. CIBC lifted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and dropped their target price for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, Cormark raised Lundin Gold from a “market perform” rating to a “buy” rating and upped their price target for the stock from C$35.00 to C$38.00 in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$33.30.

Lundin Gold Stock Up 0.9 %

The business has a fifty day simple moving average of C$33.30 and a two-hundred day simple moving average of C$30.51. The company has a market cap of C$9.57 billion, a PE ratio of 30.91 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The firm had revenue of C$440.77 million for the quarter. As a group, equities research analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 82.95%.

Insider Activity

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Company 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.