Lundin Gold (TSE:LUG) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

Lundin Gold Inc. (TSE:LUG) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$95.36 and traded as high as C$97.00. Lundin Gold shares last traded at C$95.87, with a volume of 914,508 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUG. Royal Bank Of Canada reduced their price objective on shares of Lundin Gold from C$98.00 to C$89.00 in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce decreased their target price on shares of Lundin Gold from C$137.00 to C$131.00 in a research report on Monday, August 10th. Finally, Desjardins lowered their target price on shares of 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. Two research analysts have rated the stock with a Buy rating. According to MarketBeat, Lundin Gold presently has an average rating of “Buy” and a consensus target price of C$108.40.

Lundin Gold Trading Up 5.0%

The stock has a market capitalization of C$23.17 billion, a PE ratio of 24.90 and a beta of 1.86. The stock’s fifty day simple moving average is C$91.44 and its 200-day simple moving average is C$95.36.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, November 5th. The company reported C$1.75 EPS for the quarter. Lundin Gold had a net margin of 46.31% and a return on equity of 81.63%. The company had revenue of C$901.15 million during the quarter. As a group, analysts anticipate that Lundin Gold Inc. will post 2.56 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were given a $1.0934 dividend. This represents a $4.37 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Thursday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.91. Lundin Gold’s payout ratio is currently 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.