Lundin Gold (OTCMKTS:LUGDF) Stock Price Up 6.6% – Still a Buy?

Lundin Gold Inc. (OTCMKTS:LUGDF)’s share price shot up 6.6% during mid-day trading on Thursday. The stock traded as high as C$67.82 and last traded at C$67.82. 80,345 shares changed hands during trading, an increase of 53% from the average daily volume of 52,469 shares. The stock had previously closed at C$63.61.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reaffirmed a “market perform” rating on shares of Lundin Gold in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Lundin Gold Trading Down 2.1%

The stock has a fifty day moving average price of C$67.02 and a two-hundred day moving average price of C$65.14.

About Lundin Gold

Lundin Gold Inc is a Canadian mining company focused on the acquisition, development and operation of gold properties. Its principal asset is the Fruta del Norte (FDN) underground gold mine in southeastern Ecuador, one of the country’s largest modern mining projects.

The FDN mine produces gold doré and concentrate for sale to international customers. Lundin Gold also conducts exploration and resource development activities in and around the FDN concession, with the goal of extending mine life and identifying additional mineralization.

The company acquired the Fruta del Norte project from Kinross Gold in 2014 and began commercial production at the mine in 2019.