Lundin Gold (TSE:LUG) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Lundin Gold shares crossed above their 50-day moving average, trading as high as C$118.59 (last C$118.32) versus a 50‑day MA of C$109.35 on volume of 466,603 shares.
• Analyst sentiment is mixed-to-cautious: four Hold ratings and one Sell produce a MarketBeat consensus of "Reduce" with an average price target of C$98.17, below the current share price.
• Dividend was increased—the company paid a quarterly dividend of C$1.1642 (annualized C$4.66), implying a 3.9% yield and a payout ratio of about 71.6%.

Shares of Lundin Gold Inc. (TSE:LUG - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$109.35 and traded as high as C$118.59. Lundin Gold shares last traded at C$118.32, with a volume of 466,603 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Lundin Gold from C$128.00 to C$119.00 in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce raised their target price on shares of Lundin Gold from C$123.00 to C$141.00 in a report on Wednesday, February 4th. Scotiabank raised their target price on shares of Lundin Gold from C$70.00 to C$90.00 in a report on Monday, January 26th. TD Securities raised their price target on Lundin Gold from C$95.00 to C$114.00 in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their price target on Lundin Gold from C$91.00 to C$113.00 in a research report on Thursday, March 12th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of C$98.17.

Lundin Gold Price Performance

The firm has a market capitalization of C$28.60 billion, a P/E ratio of 36.18 and a beta of 1.58. The firm has a 50-day moving average price of C$109.35 and a two-hundred day moving average price of C$108.36.

Lundin Gold (TSE:LUG - Get Free Report) last released its earnings results on Friday, February 20th. The company reported C$1.33 earnings per share for the quarter. Lundin Gold had a return on equity of 60.01% and a net margin of 44.42%.The business had revenue of C$697.83 million during the quarter. Sell-side analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 26th were given a dividend of $1.1642 per share. This represents a $4.66 annualized dividend and a dividend yield of 3.9%. This is a positive change from Lundin Gold's previous quarterly dividend of $0.71. The ex-dividend date was Wednesday, March 11th. Lundin Gold's dividend payout ratio is 71.56%.

Lundin Gold Company Profile

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.

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