Free Trial

Lundin Gold (TSE:LUG) Sets New 52-Week High - Here's What Happened

Lundin Gold logo with Basic Materials background

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%.
  • Need better tools to track Lundin Gold? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Veritas cut shares of Lundin Gold from a "strong-buy" rating to a "strong sell" rating in a report on Monday, June 9th. Cormark cut shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Royal Bank Of Canada raised their price objective on shares of Lundin Gold from C$50.00 to C$54.00 in a report on Wednesday, June 4th. Desjardins cut shares of Lundin Gold from a "moderate buy" rating to a "hold" rating and raised their price objective for the stock from C$62.00 to C$70.00 in a report on Thursday, July 17th. Finally, National Bank Financial cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of C$54.18.

Check Out Our Latest Research Report on Lundin Gold

Lundin Gold Stock Performance

The business's 50-day moving average is C$69.62 and its two-hundred day moving average is C$55.64. The stock has a market capitalization of C$13.22 billion, a PE ratio of 43.48 and a beta of 1.23.

Lundin Gold Cuts Dividend

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

Insiders Place Their Bets

In other news, Senior Officer Terrence Smith sold 40,656 shares of Lundin Gold stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total transaction of C$2,604,423.36. Also, Senior Officer Sheila Margaret Colman sold 1,400 shares of Lundin Gold 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. In the last ninety days, insiders have sold 65,056 shares of company stock worth $4,166,044. Corporate insiders own 58.72% of the company's stock.

About Lundin Gold

(Get Free Report)

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.

Further Reading

Should You Invest $1,000 in Lundin Gold Right Now?

Before you consider Lundin Gold, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lundin Gold wasn't on the list.

While Lundin Gold currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google Cover

Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

$15 Billion for Cybersecurity: The Government’s Next Big Push
Tesla’s Future Unleashed: Elon’s Robotics Move Changes Everything
Top Trades: Massive Gains and Costly Mistakes to Avoid

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines