Lundin Gold (TSE:LUG) Sets New 12-Month High at $19.62

Lundin Gold Inc. (TSE:LUG)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$19.62 and last traded at C$19.55, with a volume of 61971 shares traded. The stock had previously closed at C$19.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LUG shares. Raymond James set a C$17.50 price objective on Lundin Gold and gave the stock an “outperform” rating in a research report on Thursday, January 25th. National Bankshares lifted their price objective on Lundin Gold from C$24.50 to C$24.75 in a research report on Friday. Veritas Investment Research lifted their price objective on Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Jefferies Financial Group set a C$19.00 target price on Lundin Gold and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Scotiabank lifted their target price on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$21.48.

Lundin Gold Price Performance

The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41. The stock has a 50 day moving average price of C$17.54 and a two-hundred day moving average price of C$16.58. The firm has a market capitalization of C$4.81 billion, a price-to-earnings ratio of 19.78 and a beta of 1.10.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The firm had revenue of C$259.63 million during the quarter. As a group, analysts expect that Lundin Gold Inc. will post 1.3629738 EPS for the current year.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.269 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.33%. Lundin Gold’s payout ratio is presently 52.94%.

Insider Activity

In other news, Director Ronald F. Hochstein sold 100,000 shares of Lundin Gold stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total value of C$1,673,330.00. Insiders own 59.46% of the company’s stock.

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.