Lundin Gold (TSE:LUG) Hits New 1-Year High - What's Next?

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as C$69.39 and last traded at C$68.74, with a volume of 149885 shares. The stock had previously closed at C$66.31.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cormark cut shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Raymond James increased their price objective on shares of Lundin Gold from C$32.00 to C$43.00 in a report on Friday, April 4th. BMO Capital Markets increased their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. TD Securities increased their price objective on shares of Lundin Gold from C$58.00 to C$65.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, CIBC increased their price objective on shares of Lundin Gold from C$44.00 to C$46.00 in a report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Lundin Gold has an average rating of "Moderate Buy" and a consensus price target of C$47.89.

Lundin Gold Trading Up 1.0%

The stock's 50-day moving average is C$55.63 and its 200-day moving average is C$42.91. The stock has a market cap of C$11.82 billion, a P/E ratio of 38.88 and a beta of 1.23.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th will be given a $0.2075 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.83 dividend on an annualized basis and a yield of 1.20%. Lundin Gold's dividend payout ratio is presently 60.06%.

Insider Activity at Lundin Gold

In other news, Senior Officer Terrence Smith sold 40,656 shares of Lundin Gold stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total value of C$2,604,423.36. Also, Senior Officer Sheila Margaret Colman sold 14,500 shares of Lundin Gold stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of C$40.40, for a total transaction of C$585,824.65. Insiders sold 77,356 shares of company stock worth $4,238,128 in the last 90 days. Corporate 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.