Lundin Gold (TSE:LUG) Sets New 52-Week High at $20.36

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$20.36 and last traded at C$20.29, with a volume of 425418 shares changing hands. The stock had previously closed at C$19.83.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LUG. Cormark boosted their price objective on shares of Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Raymond James upped their price target on Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday, April 23rd. Veritas Investment Research lifted their price objective on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Scotiabank upped their target price on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a "sector perform" rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group raised their price target on shares of Lundin Gold from C$19.00 to C$23.00 and gave the company a "buy" rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$22.25.

Lundin Gold Stock Performance

The company has a market capitalization of C$4.85 billion, a P/E ratio of 19.89 and a beta of 1.14. The business has a 50 day moving average of C$18.59 and a 200 day moving average of C$16.88. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98.

Lundin Gold (TSE:LUG - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share for the quarter, missing analysts' consensus estimates of C$0.21 by C($0.02). The business had revenue of C$259.63 million during the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. On average, sell-side analysts predict that Lundin Gold Inc. will post 1.5100888 earnings per share for the current year.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.269 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold's payout ratio is 52.94%.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. Company insiders own 59.03% of the company's stock.

About Lundin Gold

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.

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