Lundin Gold (TSE:LUG) Hits New 52-Week High – Here’s What Happened

Lundin Gold Inc. (TSE:LUG)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$36.08 and last traded at C$35.99, with a volume of 77480 shares trading hands. The stock had previously closed at C$34.99.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LUG shares. TD Securities lifted their target price on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Scotiabank raised their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Cormark raised Lundin Gold from a “market perform” rating to a “buy” rating and raised their price objective for the stock from C$35.00 to C$38.00 in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$33.30.

Lundin Gold Price Performance

The company has a market cap of C$8.51 billion, a PE ratio of 27.49 and a beta of 1.23. The stock has a fifty day moving average price of C$32.45 and a 200-day moving average price of C$29.59. 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, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The firm had revenue of C$440.77 million during the quarter. On average, equities analysts expect that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors 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 2.26%. The ex-dividend date of this dividend was Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was 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.