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

Lundin Gold Inc. (TSE:LUG)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$130.98 and last traded at C$125.86, with a volume of 565148 shares traded. The stock had previously closed at C$128.57.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LUG shares. TD Securities boosted their price objective on Lundin Gold from C$95.00 to C$114.00 in a report on Thursday, January 22nd. Cormark lifted their target price on Lundin Gold from C$100.00 to C$115.00 in a research report on Wednesday, January 14th. Canaccord Genuity Group boosted their price target on shares of Lundin Gold from C$103.00 to C$108.00 in a research note on Wednesday, November 12th. Canadian Imperial Bank of Commerce increased their price target on shares of Lundin Gold from C$123.00 to C$141.00 in a research report on Wednesday, February 4th. Finally, BMO Capital Markets dropped their price objective on shares of Lundin Gold from C$128.00 to C$119.00 in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lundin Gold has a consensus rating of “Reduce” and an average price target of C$93.25.

Lundin Gold Price Performance

The stock’s 50 day moving average is C$114.63 and its two-hundred day moving average is C$104.16. The stock has a market capitalization of C$30.42 billion, a PE ratio of 44.47 and a beta of 1.02.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Friday, February 20th. The company reported C$1.33 earnings per share (EPS) for the quarter. Lundin Gold had a net margin of 44.42% and a return on equity of 60.01%. The company had revenue of C$697.82 million during the quarter. On average, equities analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 26th will be issued a $1.1642 dividend. This represents a $4.66 annualized dividend and a yield of 3.7%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Wednesday, March 11th. Lundin Gold’s dividend payout ratio is currently 61.48%.

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company’s board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.