Lundin Gold (TSE:LUG) Sets New 12-Month High - Should You Buy?

Key Points

• Lundin Gold Inc. reached a new 52-week high of C$75.20 during trading, significantly increasing from the previous closing price of C$72.80.
• Analysts have mixed opinions on Lundin Gold, with ratings ranging from "strong sell" to "hold," and an average target price of C$54.18.
• The company announced a quarterly dividend of $0.2075, representing an annualized yield of 1.1%, but has a relatively high dividend payout ratio of 60.06%.

Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$75.20 and last traded at C$75.13, with a volume of 437509 shares changing hands. The stock had previously closed at C$72.80.

Wall Street Analysts Forecast Growth

Several research firms have commented on LUG. Desjardins cut shares of Lundin Gold from a "moderate buy" rating to a "hold" rating and boosted their price target for the stock from C$62.00 to C$70.00 in a report on Thursday, July 17th. CIBC boosted their target price on Lundin Gold from C$44.00 to C$46.00 in a report on Thursday, April 17th. Cormark cut Lundin Gold from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. BMO Capital Markets raised their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a research report on Friday, May 9th. Finally, Veritas lowered 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 and twelve have assigned a hold rating to the stock. Based on data from MarketBeat, Lundin Gold currently has an average rating of "Hold" and a consensus price target of C$54.18.

Lundin Gold Stock Up 1.8%

The firm's 50 day moving average is C$68.98 and its two-hundred day moving average is C$54.49. The stock has a market cap of C$12.65 billion, a price-to-earnings ratio of 41.58 and a beta of 1.23.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were paid a $0.2075 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $0.83 annualized dividend and a dividend yield of 1.1%. Lundin Gold's dividend payout ratio (DPR) is presently 60.06%.

Insider Transactions at Lundin Gold

In related news, Director Pablo Mir sold 15,000 shares of the business's stock in a transaction that occurred on 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 Sheila Margaret Colman sold 1,400 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$75.05, for a total value of C$105,070.00. Over the last three months, insiders sold 65,056 shares of company stock worth $4,166,044. Company 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.

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