Lundin Gold (TSE:LUG) Sets New 12-Month High at $19.62

Lundin Gold Inc. (TSE:LUG)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$19.62 and last traded at C$19.55, with a volume of 61971 shares traded. The stock had previously closed at C$19.15.

Wall Street Analyst Weigh In

A number of brokerages have commented on LUG. Cormark lifted their target price on Lundin Gold from C$22.00 to C$23.00 in a research note on Friday. Scotiabank lifted their target price on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Veritas Investment Research lifted their target price on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Jefferies Financial Group set a C$19.00 target price on Lundin Gold and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Raymond James set a C$17.50 target price on Lundin Gold and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$21.48.

Lundin Gold Stock Performance

The stock has a fifty day moving average price of C$17.54 and a two-hundred day moving average price of C$16.58. The company has a market cap of C$4.81 billion, a P/E ratio of 19.78 and a beta of 1.10. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The business had revenue of C$259.63 million for the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. On average, equities analysts forecast that Lundin Gold Inc. will post 1.3629738 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.269 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 5.33%. Lundin Gold’s dividend payout ratio (DPR) is 52.94%.

Insiders Place Their Bets

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total value of C$1,673,330.00. 59.46% 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.