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

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as C$42.23 and last traded at C$41.99, with a volume of 48113 shares. The stock had previously closed at C$40.98.

Wall Street Analysts Forecast Growth

LUG has been the subject of a number of research analyst reports. Scotiabank lifted their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. TD Securities lifted their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Desjardins increased their target price on Lundin Gold from C$38.00 to C$42.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Jefferies Financial Group lowered Lundin Gold from a "buy" rating to a "hold" rating and lowered their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Finally, Cormark downgraded shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a research report on Thursday, February 20th. Seven equities 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$35.18.

Lundin Gold Stock Performance

The company has a market capitalization of C$7.12 billion, a price-to-earnings ratio of 23.42 and a beta of 1.23. The business's 50-day simple moving average is C$36.63 and its 200-day simple moving average is C$33.04.

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Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 26th will be issued a $0.43 dividend. This is a positive change from Lundin Gold's previous quarterly dividend of $0.20. This represents a $1.72 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Tuesday, March 11th. Lundin Gold's dividend payout ratio is currently 60.06%.

Insider Buying and Selling at Lundin Gold

In related news, Director Ian Gibbs sold 14,200 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total value of C$587,880.00. Also, 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. Over the last ninety days, insiders have sold 144,685 shares of company stock valued at $5,854,985. 58.72% of the stock is currently owned by 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.