Lundin Gold (TSE:LUG) Reaches New 52-Week High - Time to Buy?

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as C$38.00 and last traded at C$37.64, with a volume of 288777 shares. The stock had previously closed at C$36.75.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Cormark raised Lundin Gold from a "market perform" rating to a "buy" rating and boosted their price objective for the stock from C$35.00 to C$38.00 in a research note on Friday, January 10th. Scotiabank increased their target price on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Royal Bank of Canada lifted their price target on Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Finally, Jefferies Financial Group lowered shares of Lundin Gold from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$33.30.

Lundin Gold Stock 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 cap of C$9.57 billion, a price-to-earnings ratio of 30.92 and a beta of 1.23. The firm's 50-day moving average price is C$33.59 and its 200 day moving average price is C$30.64.

Lundin Gold (TSE:LUG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping analysts' consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. On average, sell-side analysts anticipate that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, December 5th. Lundin Gold's payout ratio is 82.95%.

Insiders Place Their Bets

In other news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction 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. Company 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.