Lundin Gold (TSE:LUG) Shares Cross Above 50 Day Moving Average - Here's What Happened

Lundin Gold Inc. (TSE:LUG - Get Free Report) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$52.88 and traded as high as C$64.42. Lundin Gold shares last traded at C$64.18, with a volume of 174,316 shares.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Cormark cut shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. BMO Capital Markets lifted their target price on shares of Lundin Gold from C$45.00 to C$62.00 in a research note on Friday, May 9th. Royal Bank of Canada lifted their target price on shares of Lundin Gold from C$37.00 to C$42.00 in a research note on Friday, April 4th. Cibc World Mkts cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Finally, National Bankshares boosted their price target on shares of Lundin Gold from C$66.50 to C$67.75 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$47.89.

Lundin Gold Stock Up 1.3%

The stock's 50-day simple moving average is C$54.60 and its 200 day simple moving average is C$42.36. The company has a market cap of C$11.18 billion, a price-to-earnings ratio of 36.77 and a beta of 1.23.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th will be given a $0.2075 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.83 dividend on an annualized basis and a yield of 1.27%. Lundin Gold's payout ratio is currently 60.06%.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Senior Officer Terrence Smith sold 40,656 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total transaction of C$2,604,423.36. Also, Director Pablo Mir sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of C$57.50, for a total transaction of C$460,000.00. Insiders have sold 77,356 shares of company stock valued at $4,238,128 over the last 90 days. 58.72% of the stock is owned by insiders.

About Lundin Gold

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.