Lundin Gold (TSE:LUG) Stock Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• Lundin Gold shares crossed above their 50-day moving average, reaching C$92.79 before closing at C$91.66. The stock’s 50-day average is C$90.81, versus a 200-day average of C$92.51.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of C$99.33, despite several recent target-price reductions.
• The company reported C$1.19 in quarterly EPS on C$678.70 million in revenue and increased its quarterly dividend to C$1.0934, equivalent to a 4.8% annualized yield; however, its dividend payout ratio is high at 102.6%.

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$90.81 and traded as high as C$92.79. Lundin Gold shares last traded at C$91.66, with a volume of 378,556 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group decreased their price objective on Lundin Gold from C$90.00 to C$88.00 in a report on Monday, July 6th. Canadian Imperial Bank of Commerce dropped their target price on shares of Lundin Gold from C$137.00 to C$131.00 in a report on Monday, August 10th. Royal Bank Of Canada reduced their target price on shares of Lundin Gold from C$98.00 to C$89.00 in a research report on Wednesday, September 16th. Finally, Desjardins decreased their price target on shares of Lundin Gold from C$105.00 to C$100.00 and set a "buy" rating for the company in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$99.33.

Lundin Gold Price Performance

The firm's 50 day moving average price is C$90.81 and its 200-day moving average price is C$92.51. The stock has a market cap of C$22.16 billion, a P/E ratio of 23.81 and a beta of 1.64.

Lundin Gold (TSE:LUG - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. The business 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%. On average, analysts expect that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 25th will be issued a $1.0934 dividend. This represents a $4.37 annualized dividend and a yield of 4.8%. The ex-dividend date is Thursday, September 10th. This is a positive change from Lundin Gold's previous quarterly dividend of $0.91. Lundin Gold's dividend payout ratio is 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.

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