Lundin Gold (TSE:LUG) Sets New 1-Year High - What's Next?

Lundin Gold Inc. (TSE:LUG - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as C$43.79 and last traded at C$43.79, with a volume of 269850 shares changing hands. The stock had previously closed at C$42.14.

Wall Street Analyst Weigh In

LUG has been the subject of several research reports. Desjardins upped their price objective on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Scotiabank increased their price target on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. CIBC upped their target price on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. BMO Capital Markets lowered Lundin Gold from an "outperform" rating to a "market perform" rating in a report on Tuesday, December 10th. Finally, Cormark lowered shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$35.18.

Lundin Gold Trading Down 3.1 %

The company has a market capitalization of C$7.32 billion, a PE ratio of 24.08 and a beta of 1.23. The business has a fifty day moving average of C$37.56 and a 200 day moving average of C$33.47.

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Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 26th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Lundin Gold's previous quarterly dividend of $0.20. Lundin Gold's dividend payout ratio (DPR) is currently 60.06%.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, Senior Officer Sheila Margaret Colman sold 14,500 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of C$40.40, for a total value of C$585,824.65. Over the last 90 days, insiders have sold 144,685 shares of company stock valued at $5,854,985. 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.