Lundin Gold (TSE:LUG) Hits New 52-Week High – Still a Buy?

Lundin Gold Inc. (TSE:LUG) hit a new 52-week high on Thursday . The company traded as high as C$43.79 and last traded at C$43.79, with a volume of 269850 shares traded. The stock had previously closed at C$42.14.

Wall Street Analyst Weigh In

LUG has been the subject of a number of analyst reports. CIBC upped their price objective on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Royal Bank of Canada upped their target price on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Cormark lowered Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Scotiabank upped their target price on Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Finally, BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$35.18.

Lundin Gold Price Performance

The firm has a market capitalization of C$7.56 billion, a price-to-earnings ratio of 24.85 and a beta of 1.23. The business has a fifty day moving average price of C$37.32 and a two-hundred day moving average price of C$33.32.

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 26th will be paid a $0.43 dividend. This is an increase from Lundin Gold’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, March 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.89%. Lundin Gold’s dividend payout ratio is presently 60.06%.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. Also, Director Ian Gibbs sold 14,200 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of C$41.40, for a total value of C$587,880.00. Insiders have sold 144,685 shares of company stock worth $5,854,985 over the last quarter. 58.72% of the stock is currently owned by insiders.

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.