Lundin Gold (OTCMKTS:LUGDF) Stock Price Down 0.4% – Here’s What Happened

Lundin Gold Inc. (OTCMKTS:LUGDF) fell 0.4% during mid-day trading on Thursday . The company traded as low as C$56.29 and last traded at C$57.26. 33,385 shares traded hands during trading, a decline of 38% from the average daily volume of 53,925 shares. The stock had previously closed at C$57.50.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on Lundin Gold in a research note on Thursday, May 28th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Lundin Gold Stock Performance

The company has a fifty day moving average of C$67.33 and a two-hundred day moving average of C$76.47.

About Lundin Gold

Lundin Gold Inc is a Vancouver-based gold mining company focused on the acquisition, exploration, development and operation of gold properties in South America. The company’s flagship asset is the Fruta del Norte underground gold mine, located in the province of Zamora-Chinchipe in southeast Ecuador. Commencing commercial production in mid-2021, Fruta del Norte combines high-grade epithermal vein mineralization with a modern processing facility to produce gold doré bars for sale on international markets.

Historically, the Fruta del Norte deposit was first identified in 2006 and later became the cornerstone of Lundin Gold through corporate restructuring that established the company as an independent public entity in 2019.