Lundin Gold (TSE:LUG) Hits New 12-Month High – Time to Buy?

Lundin Gold Inc. (TSE:LUG) shares reached a new 52-week high during mid-day 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 traded. The stock had previously closed at C$41.21.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Cormark lowered shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. CIBC increased their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Scotiabank boosted their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Finally, Desjardins upped their target price on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus price target of C$34.45.

Lundin Gold Stock Performance

The company has a market capitalization of C$6.84 billion, a PE ratio of 22.48 and a beta of 1.23. The company has a 50 day simple moving average of C$34.74 and a 200 day simple moving average of C$31.97.

Lundin Gold Cuts Dividend

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

Insider Buying and Selling

In other news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is 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.