Lundin Gold (TSE:LUG) Shares Pass Above Fifty Day Moving Average – Here’s Why

Lundin Gold Inc. (TSE:LUG)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$79.97 and traded as high as C$83.30. Lundin Gold shares last traded at C$81.60, with a volume of 1,054,090 shares traded.

Analyst Ratings Changes

LUG has been the topic of several analyst reports. ATB Cormark Capital Markets raised shares of Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 target price on the stock in a report on Friday, May 8th. Jefferies Financial Group lowered their price target on shares of Lundin Gold from C$90.00 to C$88.00 in a report on Monday, July 6th. Finally, Desjardins dropped their price objective on shares of Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Lundin Gold presently has a consensus rating of “Buy” and an average price target of C$102.17.

Lundin Gold Price Performance

The company has a market capitalization of C$19.73 billion, a price-to-earnings ratio of 21.64 and a beta of 1.64. The stock has a 50 day simple moving average of C$79.97 and a two-hundred day simple moving average of C$97.28.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, May 7th. The company reported C$1.57 earnings per share (EPS) for the quarter. Lundin Gold had a return on equity of 68.29% and a net margin of 45.73%.The business had revenue of C$788.83 million during the quarter. Equities research analysts predict that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, June 10th. This represents a $3.64 annualized dividend and a yield of 4.5%. Lundin Gold’s payout ratio is presently 84.62%.

Lundin Gold Company Profile

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.