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

Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as C$36.08 and last traded at C$35.99, with a volume of 77480 shares trading hands. The stock had previously closed at C$34.99.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Jefferies Financial Group downgraded Lundin Gold from a "buy" rating to a "hold" rating and cut their target price for the stock from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Royal Bank of Canada raised their target price on Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th. TD Securities raised their target price on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. BMO Capital Markets downgraded Lundin Gold from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 10th. Finally, Scotiabank raised their price objective on Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$33.30.

Lundin Gold Trading Up 0.9 %

The company has a market capitalization of C$8.48 billion, a price-to-earnings ratio of 27.37 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The business's 50-day moving average price is C$32.27 and its two-hundred day moving average price is C$29.39.

Lundin Gold (TSE:LUG - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The company had revenue of C$440.77 million for the quarter. Research analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.27%. Lundin Gold's dividend payout ratio is 82.95%.

Insider Activity

In related news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction that occurred 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. Corporate 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.

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