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

Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$45.89 and last traded at C$45.20, with a volume of 134973 shares traded. The stock had previously closed at C$43.23.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cibc World Mkts downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. TD Securities upped their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Scotiabank raised their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. CIBC cut shares of Lundin Gold from an "outperform" rating to a "neutral" rating and boosted their target price for the company from C$41.00 to C$44.00 in a research note on Thursday, March 20th. Finally, Royal Bank of Canada raised their price target on shares of Lundin Gold from C$37.00 to C$42.00 in a research note on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$39.20.

Lundin Gold Trading Up 5.2 %

The firm has a market cap of C$8.77 billion, a P/E ratio of 28.85 and a beta of 1.23. The business's fifty day simple moving average is C$41.90 and its 200-day simple moving average is C$35.92.

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Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Lundin Gold's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, March 11th. Lundin Gold's payout ratio is presently 60.06%.

Insider Buying and Selling

In related news, Senior Officer Chester See sold 5,800 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total transaction of C$237,321.50. Also, Director Ian Gibbs sold 14,200 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of C$41.40, for a total transaction of C$587,880.00. In the last quarter, insiders have sold 133,150 shares of company stock valued at $5,499,984. 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.