Lundin Gold (TSE:LUG) Reaches New 52-Week High at $30.82

Lundin Gold Inc. (TSE:LUG)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$30.82 and last traded at C$30.74, with a volume of 207939 shares. The stock had previously closed at C$29.59.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LUG. Cormark boosted their price target on Lundin Gold from C$26.00 to C$27.00 in a research note on Friday, August 9th. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their price target for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. National Bankshares boosted their price target on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Canaccord Genuity Group boosted their target price on Lundin Gold from C$27.50 to C$28.50 in a report on Tuesday, August 20th. Finally, Scotiabank boosted their target price on Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$27.42.

Lundin Gold Stock Performance

The stock has a market capitalization of C$7.35 billion, a P/E ratio of 23.30 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The company’s fifty day simple moving average is C$26.59 and its two-hundred day simple moving average is C$22.24.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. As a group, equities analysts forecast that Lundin Gold Inc. will post 2.5618964 EPS for the current year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a $0.551 dividend. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 7.19%. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s dividend payout ratio is currently 84.25%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. Insiders have sold a total of 72,840 shares of company stock valued at $2,146,122 in the last three months. 58.75% of the stock is currently owned by company 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.