Shares of Lundin Gold Inc. (TSE:LUG – Get Free Report) hit a new 52-week high on Friday . The stock traded as high as C$29.73 and last traded at C$29.53, with a volume of 136748 shares trading hands. The stock had previously closed at C$28.97.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. National Bankshares raised their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. TD Securities lifted their target price on Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. CIBC raised their price objective on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Scotiabank boosted their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Finally, Royal Bank of Canada boosted their price objective on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$27.08.
Read Our Latest Stock Report on LUG
Lundin Gold Trading Up 2.2 %
Lundin Gold (TSE:LUG – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The firm had revenue of C$412.43 million for the quarter. Equities analysts forecast that Lundin Gold Inc. will post 2.5613577 earnings per share for the current fiscal year.
Lundin Gold Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th will be given a dividend of $0.551 per share. The ex-dividend date is Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 7.44%. Lundin Gold’s dividend payout ratio (DPR) is presently 85.16%.
Insider Activity
In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. In related news, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. 58.75% of the stock is owned by corporate 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.
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