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 Friday . The stock traded as high as C$42.23 and last traded at C$41.99, with a volume of 48113 shares. The stock had previously closed at C$40.98.

Wall Street Analysts Forecast Growth

LUG has been the topic of several research reports. Royal Bank of Canada boosted their price target on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Cormark cut Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. Scotiabank boosted their price target on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. TD Securities boosted their price target on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Desjardins upped their target price on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$35.18.

Lundin Gold Stock Up 6.1 %

The company has a 50 day simple moving average of C$36.44 and a 200-day simple moving average of C$32.88. The stock has a market capitalization of C$7.43 billion, a price-to-earnings ratio of 24.42 and a beta of 1.23.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a yield of 3.95%. Lundin Gold’s payout ratio is 60.06%.

Insider Buying and Selling at Lundin Gold

In other news, Director Ronald F. Hochstein sold 88,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Also, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Over the last three months, insiders have sold 130,485 shares of company stock valued at $5,267,105. 58.72% of the stock is currently owned by company insiders.

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.