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

Lundin Gold Inc. (TSE:LUG - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$33.35 and last traded at C$33.11, with a volume of 250529 shares. The stock had previously closed at C$32.67.

Analyst Ratings Changes

LUG has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Raymond James lowered Lundin Gold from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. Jefferies Financial Group lifted their price target on Lundin Gold from C$29.00 to C$35.00 in a report on Friday, October 4th. TD Securities lifted their price target on Lundin Gold from C$24.00 to C$27.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Finally, National Bankshares raised their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Three 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$28.33.

Lundin Gold Stock Performance

The company has a market capitalization of C$7.88 billion, a price-to-earnings ratio of 25.67 and a beta of 1.23. 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 firm has a 50-day simple moving average of C$27.96 and a two-hundred day simple moving average of C$23.03.

Lundin Gold (TSE:LUG - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The firm had revenue of C$412.43 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 fiscal year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a $0.551 dividend. This is an increase from Lundin Gold's previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 6.71%. The ex-dividend date was Tuesday, September 10th. Lundin Gold's payout ratio is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 14,900 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Chester See sold 14,900 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Insiders sold a total of 72,840 shares of company stock valued at $2,146,122 in the last three months. 58.72% of the stock is owned by corporate insiders.

About Lundin Gold

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.