Lundin Gold (OTCMKTS:LUGDF) Shares Down 5.6% – Here’s What Happened

Lundin Gold Inc. (OTCMKTS:LUGDF)’s share price was down 5.6% during trading on Tuesday . The company traded as low as C$67.30 and last traded at C$67.30. Approximately 205,663 shares changed hands during mid-day trading, an increase of 290% from the average daily volume of 52,736 shares. The stock had previously closed at C$71.30.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LUGDF. BMO Capital Markets reiterated a “market perform” rating on shares of Lundin Gold in a research report on Friday, August 7th. UBS Group started coverage on shares of Lundin Gold in a research report on Thursday, May 28th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Lundin Gold Trading Up 4.8%

The firm has a 50-day moving average price of C$61.32 and a 200 day moving average price of C$68.38.

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.