Lundin Gold (TSE:LUG) Shares Cross Below Fifty Day Moving Average – Should You Sell?

Shares of Lundin Gold Inc. (TSE:LUG) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$90.47 and traded as low as C$73.51. Lundin Gold shares last traded at C$74.75, with a volume of 731,002 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LUG shares. ATB Cormark Capital Markets raised Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 price target on the stock in a research report on Friday, May 8th. Royal Bank Of Canada increased their price objective on shares of Lundin Gold from C$91.00 to C$113.00 in a research report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$101.58.

Lundin Gold Stock Performance

The firm has a market capitalization of C$18.08 billion, a price-to-earnings ratio of 19.83 and a beta of 1.52. The stock’s fifty day moving average is C$90.47 and its two-hundred day moving average is C$104.55.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$1.57 earnings per share for the quarter. The company had revenue of C$788.83 million during the quarter. Lundin Gold had a net margin of 45.73% and a return on equity of 68.29%. Sell-side analysts anticipate that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 25th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $3.64 annualized dividend and a dividend yield of 4.9%. Lundin Gold’s payout ratio is 84.62%.

Lundin Gold Company Profile

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.