Lundin Gold (TSE:LUG) Reaches New 52-Week High at $30.82

Lundin Gold Inc. (TSE:LUG)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$30.82 and last traded at C$30.74, with a volume of 207939 shares traded. The stock had previously closed at C$29.59.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LUG shares. TD Securities boosted their target price on Lundin Gold from C$24.00 to C$27.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their price objective on Lundin Gold from C$26.00 to C$29.00 in a research report on Monday, September 9th. National Bank Financial upgraded Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. Canaccord Genuity Group upped their price objective on Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. Finally, Cormark upped their price objective on Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$27.42.

Lundin Gold Price Performance

The company has a market capitalization of C$7.35 billion, a price-to-earnings ratio of 23.30 and a beta of 1.23. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The company has a 50 day simple moving average of C$26.59 and a 200 day simple moving average of C$22.24.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The business had revenue of C$412.43 million during the quarter. As a group, research analysts predict that Lundin Gold Inc. will post 2.5618964 EPS for the current year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date was Tuesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) is currently 84.25%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Insiders have sold a total of 72,840 shares of company stock valued at $2,146,122 in the last quarter. Insiders own 58.75% of the company’s stock.

Lundin Gold Company Profile

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.