Lundin Gold (TSE:LUG) Reaches New 12-Month High - What's Next?

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$75.19 and last traded at C$74.74, with a volume of 168326 shares trading hands. The stock had previously closed at C$72.73.

Analyst Upgrades and Downgrades

Several analysts have commented on LUG shares. Raymond James Financial upped their target price on shares of Lundin Gold from C$32.00 to C$43.00 in a research report on Friday, April 4th. BMO Capital Markets upped their target price on shares of Lundin Gold from C$45.00 to C$62.00 in a research report on Friday, May 9th. Jefferies Financial Group boosted their price target on shares of Lundin Gold from C$36.00 to C$45.00 in a report on Friday, April 4th. National Bankshares lowered shares of Lundin Gold from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from C$67.75 to C$89.00 in a report on Tuesday. Finally, Veritas lowered shares of Lundin Gold from a "strong-buy" rating to a "strong sell" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Lundin Gold has a consensus rating of "Hold" and an average target price of C$50.91.

Lundin Gold Trading Up 0.7%

The stock has a market capitalization of C$12.52 billion, a price-to-earnings ratio of 41.16 and a beta of 1.23. The stock's 50 day moving average is C$63.91 and its two-hundred day moving average is C$47.34.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, June 10th. Lundin Gold's payout ratio is presently 60.06%.

Insider Buying and Selling

In related news, Senior Officer Sheila Margaret Colman sold 1,400 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$75.05, for a total value of C$105,070.00. Also, Director Pablo Mir sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of C$57.50, for a total transaction of C$460,000.00. In the last ninety days, insiders sold 65,056 shares of company stock valued at $4,166,044. Company insiders own 58.72% of the company's stock.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.