Lundin Gold (TSE:LUG) Hits New 12-Month High – Here’s What Happened

Lundin Gold Inc. (TSE:LUG)’s share price hit a new 52-week high on Thursday . The company traded as high as C$36.47 and last traded at C$36.38, with a volume of 208749 shares changing hands. The stock had previously closed at C$34.39.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LUG. Scotiabank boosted their target price on Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Canaccord Genuity Group downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. TD Securities boosted their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Jefferies Financial Group lowered shares of Lundin Gold from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, CIBC lifted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and an average price target of C$33.30.

Lundin Gold Price Performance

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 has a market capitalization of C$8.64 billion, a P/E ratio of 27.91 and a beta of 1.23. The firm’s fifty day moving average is C$32.95 and its 200 day moving average is C$30.11.

Lundin Gold (TSE:LUG) last released its earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating analysts’ consensus estimates of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The firm had revenue of C$440.77 million for the quarter. As a group, analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.22%. Lundin Gold’s dividend payout ratio (DPR) is 82.95%.

Insider Activity

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

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.