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

Lundin Gold Inc. (TSE:LUG) hit a new 52-week high on Tuesday . The stock 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 analysts have commented on LUG shares. Canaccord Genuity Group increased their price target on shares of Lundin Gold from C$103.00 to C$108.00 in a research note on Wednesday, November 12th. BMO Capital Markets dropped their target price on shares of Lundin Gold from C$128.00 to C$119.00 in a research report on Monday, February 23rd. Jefferies Financial Group lifted their price target on shares of Lundin Gold from C$96.00 to C$111.00 in a research note on Monday, December 8th. Scotiabank boosted their price target on shares of Lundin Gold from C$70.00 to C$90.00 in a research report on Monday, January 26th. Finally, TD Securities raised their price objective on Lundin Gold from C$95.00 to C$114.00 in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of C$93.25.

Lundin Gold Price Performance

The stock’s 50-day moving average is C$114.63 and its 200 day moving average is C$104.16. The stock has a market cap of C$30.42 billion, a price-to-earnings ratio of 44.47 and a beta of 1.02.

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

Lundin Gold Increases Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, March 11th. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.71. Lundin Gold’s 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.