Lundin Gold (TSE:LUG) Reaches New 52-Week High - Should You Buy?

Lundin Gold Inc. (TSE:LUG - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as C$74.99 and last traded at C$73.14, with a volume of 130731 shares traded. The stock had previously closed at C$72.99.

Wall Street Analyst Weigh In

LUG has been the subject of a number of research reports. BMO Capital Markets upped their target price on shares of Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. Jefferies Financial Group boosted their target price on shares of Lundin Gold from C$36.00 to C$45.00 in a report on Friday, April 4th. Cibc World Mkts downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Royal Bank of Canada upped their price objective on shares of Lundin Gold from C$50.00 to C$54.00 in a report on Wednesday, June 4th. Finally, CIBC boosted their target price on Lundin Gold from C$44.00 to C$46.00 in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lundin Gold currently has an average rating of "Hold" and an average price target of C$48.98.

Lundin Gold Stock Up 1.2%

The stock has a market capitalization of C$12.61 billion, a PE ratio of 41.47 and a beta of 1.23. The stock has a fifty day moving average of C$59.88 and a 200-day moving average of C$44.93.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 25th will be paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, June 10th. Lundin Gold's payout ratio is presently 60.06%.

Insider Buying and Selling

In other news, Director Pablo Mir sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$66.44, for a total transaction of C$996,550.50. Also, Senior Officer Terrence Smith sold 40,656 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total value of C$2,604,423.36. Over the last ninety days, insiders have sold 63,656 shares of company stock worth $4,060,974. 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.