Lundin Gold (TSE:LUG) Share Price Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Lundin Gold shares rose above their 50-day moving average, reaching C$99.98 and closing at C$98.71, compared with a 50-day average of C$85.16.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of C$101.33, although several firms recently lowered their targets while ATB Cormark upgraded the stock to “outperform.”
• The company reported C$1.19 in quarterly EPS and C$678.7 million in revenue. Its quarterly dividend equates to an annualized C$3.64 and a 3.7% yield, but the payout ratio is high at 102.6%.

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$85.16 and traded as high as C$99.98. Lundin Gold shares last traded at C$98.71, with a volume of 602,261 shares traded.

Analyst Upgrades and Downgrades

LUG has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce decreased their price objective on shares of Lundin Gold from C$137.00 to C$131.00 in a research note on Monday, August 10th. Jefferies Financial Group reduced their target price on Lundin Gold from C$90.00 to C$88.00 in a report on Monday, July 6th. Desjardins lowered their price target on Lundin Gold from C$105.00 to C$100.00 and set a "buy" rating on the stock in a report on Monday, July 27th. Finally, ATB Cormark Capital Markets raised Lundin Gold from a "sector perform" rating to an "outperform" rating and set a C$130.00 price target on the stock in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$101.33.

Lundin Gold Stock Down 1.6%

The business has a 50-day moving average of C$85.16 and a 200-day moving average of C$94.89. The stock has a market cap of C$23.87 billion, a price-to-earnings ratio of 25.64 and a beta of 1.62.

Lundin Gold (TSE:LUG - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share for the quarter. The company had revenue of C$678.70 million for the quarter. Lundin Gold had a return on equity of 81.63% and a net margin of 46.31%. Equities analysts anticipate that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, June 10th. Lundin Gold's dividend payout ratio (DPR) is presently 102.60%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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