Lundin Gold (TSE:LUG) Shares Pass Above 50-Day Moving Average – What’s Next?

Lundin Gold Inc. (TSE:LUG) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$79.97 and traded as high as C$83.30. Lundin Gold shares last traded at C$81.60, with a volume of 1,054,090 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jefferies Financial Group cut their price objective on shares of Lundin Gold from C$90.00 to C$88.00 in a research report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 target price on the stock in a report on Friday, May 8th. Finally, Desjardins cut their price objective on Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Lundin Gold currently has an average rating of “Buy” and a consensus target price of C$102.17.

Lundin Gold Stock Up 0.2%

The stock has a 50 day moving average of C$80.03 and a 200 day moving average of C$96.84. The firm has a market cap of C$20.97 billion, a price-to-earnings ratio of 23.00 and a beta of 1.62.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. Lundin Gold had a net margin of 45.73% and a return on equity of 68.29%. The business had revenue of C$678.70 million for the quarter. As a group, analysts predict that Lundin Gold Inc. will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $3.64 annualized dividend and a dividend yield of 4.2%. 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.