Lundin Gold (TSE:LUG) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

Lundin Gold Inc. (TSE:LUG) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$111.98 and traded as high as C$116.64. Lundin Gold shares last traded at C$116.58, with a volume of 463,218 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on LUG. Jefferies Financial Group upped their target price on shares of Lundin Gold from C$96.00 to C$111.00 in a report on Monday, December 8th. Raymond James Financial increased their price objective on shares of Lundin Gold from C$65.00 to C$80.00 in a research report on Friday, October 10th. CIBC boosted their price objective on Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their target price on Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. Finally, Canaccord Genuity Group lifted their price target on Lundin Gold from C$103.00 to C$108.00 in a report on Wednesday, November 12th. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of C$78.04.

Lundin Gold Trading Up 0.7%

The business’s 50 day moving average price is C$111.98 and its two-hundred day moving average price is C$92.71. The company has a market capitalization of C$28.15 billion, a price-to-earnings ratio of 41.19 and a beta of 1.21.

Lundin Gold (TSE:LUG) last posted its earnings results on Friday, November 7th. The company reported C$0.86 earnings per share for the quarter. Lundin Gold had a net margin of 29.56% and a return on equity of 29.88%. The firm had revenue of C$622.58 million for the quarter. Analysts expect that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 22nd were given a $0.7058 dividend. This is a boost from Lundin Gold’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.82 annualized dividend and a dividend yield of 2.4%. Lundin Gold’s dividend payout ratio is 61.48%.

Lundin Gold Company Profile

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.