Lundin Gold (OTCMKTS:LUGDF) Shares Down 4.2% – What’s Next?

Shares of Lundin Gold Inc. (OTCMKTS:LUGDF) dropped 4.2% during mid-day trading on Wednesday. The stock traded as low as C$64.35 and last traded at C$65.00. 33,370 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 52,836 shares. The stock had previously closed at C$67.83.

Analyst Upgrades and Downgrades

LUGDF has been the subject of a number of research analyst reports. UBS Group started coverage on Lundin Gold in a report on Thursday, May 28th. They issued a “buy” rating for the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Lundin Gold in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Lundin Gold Stock Up 1.0%

The business’s 50 day moving average price is C$65.38 and its 200 day moving average price is C$66.49.

Lundin Gold Company Profile

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.