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

Lundin Gold Inc. (TSE:LUG)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$41.49 and last traded at C$40.88, with a volume of 42144 shares changing hands. The stock had previously closed at C$41.21.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LUG. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Cormark downgraded Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 20th. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and lowered their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Royal Bank of Canada increased their price target on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, CIBC lifted their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$34.45.

Lundin Gold Price Performance

The company’s 50 day moving average is C$34.74 and its 200 day moving average is C$31.97. The stock has a market cap of C$6.84 billion, a price-to-earnings ratio of 22.48 and a beta of 1.23.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, December 5th. Lundin Gold’s dividend payout ratio (DPR) is 60.06%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction 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. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Company Profile

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.