Lundin Gold (TSE:LUG) Sets New 1-Year High - Should You Buy?

Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$60.31 and last traded at C$59.18, with a volume of 58593 shares changing hands. The stock had previously closed at C$58.12.

Analyst Ratings Changes

LUG has been the subject of a number of research reports. TD Securities lifted their price objective on shares of Lundin Gold from C$46.00 to C$58.00 in a report on Tuesday, April 15th. Scotiabank lifted their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Raymond James increased their price objective on shares of Lundin Gold from C$32.00 to C$43.00 in a research note on Friday, April 4th. CIBC lifted their target price on Lundin Gold from C$44.00 to C$46.00 in a research note on Thursday, April 17th. Finally, Royal Bank of Canada upped their target price on Lundin Gold from C$37.00 to C$42.00 in a report on Friday, April 4th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Gold has a consensus rating of "Hold" and an average price target of C$42.20.

Lundin Gold Stock Up 1.9 %

The company has a market cap of C$9.92 billion, a P/E ratio of 32.64 and a beta of 1.23. The company has a 50 day moving average price of C$45.50 and a 200-day moving average price of C$37.73.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th were issued a dividend of $0.43 per share. This is a positive change from Lundin Gold's previous quarterly dividend of $0.20. This represents a $1.72 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday, March 11th. Lundin Gold's payout ratio is presently 60.06%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 14,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of C$40.40, for a total value of C$585,824.65. Also, Director Ian Gibbs sold 14,200 shares of Lundin Gold stock in a transaction on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total value of C$587,880.00. Insiders sold a total of 133,150 shares of company stock valued at $5,499,984 over the last ninety days. Insiders own 58.72% of the company's stock.

About Lundin Gold

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.