Free Trial

Lundin Gold (TSE:LUG) Stock Passes Above 50 Day Moving Average - Time to Sell?

Lundin Gold logo with Basic Materials background

Key Points

  • Lundin Gold Inc. shares have crossed above their 50-day moving average of C$69.17, reaching a high of C$75.35 during trading.
  • Analyst ratings for Lundin Gold have fluctuated, with Veritas downgrading the stock to "strong sell" while others have increased their price targets, indicating mixed investor sentiment.
  • The company announced a quarterly dividend of $0.2075 per share, reflecting a payout ratio of 60.06% and a yield of 1.1%.
  • Want stock alerts on Lundin Gold? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$69.17 and traded as high as C$75.35. Lundin Gold shares last traded at C$74.08, with a volume of 979,416 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LUG shares. National Bank Financial lowered Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 23rd. Desjardins lowered Lundin Gold from a "moderate buy" rating to a "hold" rating and increased their price target for the company from C$62.00 to C$70.00 in a research report on Thursday, July 17th. CIBC increased their price target on Lundin Gold from C$44.00 to C$46.00 in a research report on Thursday, April 17th. TD Securities lowered Lundin Gold from a "strong-buy" rating to a "hold" rating and increased their price target for the company from C$65.00 to C$73.00 in a research report on Wednesday, July 16th. Finally, BMO Capital Markets increased their price target on Lundin Gold from C$45.00 to C$62.00 in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. According to MarketBeat, Lundin Gold currently has an average rating of "Hold" and a consensus target price of C$54.18.

View Our Latest Report on LUG

Lundin Gold Stock Up 2.6%

The company has a market cap of C$13.56 billion, a P/E ratio of 44.60 and a beta of 1.23. The business has a 50-day moving average price of C$69.62 and a two-hundred day moving average price of C$55.64.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, June 10th. Lundin Gold's dividend payout ratio is currently 60.06%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 15,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of C$66.44, for a total value of C$996,550.50. Also, Senior Officer Terrence Smith sold 40,656 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total value of C$2,604,423.36. Over the last quarter, insiders sold 57,056 shares of company stock worth $3,706,044. 58.72% of the stock is owned by insiders.

Lundin Gold Company Profile

(Get Free Report)

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.

Featured Stories

Should You Invest $1,000 in Lundin Gold Right Now?

Before you consider Lundin Gold, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lundin Gold wasn't on the list.

While Lundin Gold currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide To Retirement Stocks Cover

Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

$15 Billion for Cybersecurity: The Government’s Next Big Push
Tesla’s Future Unleashed: Elon’s Robotics Move Changes Everything
Top Trades: Massive Gains and Costly Mistakes to Avoid

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines