IMHO it is bad.
If this DID belong to the 5th Kompanie then it would be marked Waffen-Grenadier Regiment 34, which came into existence in November 1944.
It's only my opinion and I'd be pleased to see what others say.
I have done a bit of research and this is what I come up with.
In May 1944 the 34th SS Freiwilligen Regiment (Lettische Nr. 5) had 14 Companies it was destroyed in July 1944 and reformed as the 34th Waffen SS Grenadier Regiment (Lettische Nr. 5) in September of 1944. With 3 battalions of infantry in the regiment, presumably that would include at least 5 companies. I would say the disk is accurately stamped at least.