Short Interest in Lundin Gold Inc. (OTCMKTS:LUGDF) Rises By 45.8%

Lundin Gold Inc. (OTCMKTS:LUGDF) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 8,544,800 shares, an increase of 45.8% from the September 15th total of 5,860,600 shares. Based on an average daily trading volume, of 235,900 shares, the short-interest ratio is currently 36.2 days. Based on an average daily trading volume, of 235,900 shares, the short-interest ratio is currently 36.2 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LUGDF shares. Raymond James Financial restated a “market perform” rating on shares of Lundin Gold in a research report on Friday, October 10th. TD Securities downgraded Lundin Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Lundin Gold in a report on Thursday, October 9th. Finally, CIBC reiterated a “neutral” rating on shares of Lundin Gold in a research report on Monday, August 11th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Lundin Gold Stock Performance

Lundin Gold stock opened at C$69.16 on Thursday. The company has a 50-day moving average price of C$64.73 and a 200 day moving average price of C$52.81. Lundin Gold has a 12-month low of C$20.23 and a 12-month high of C$82.68.

Lundin Gold Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.2992 per share. This represents a dividend yield of 184.0%. The ex-dividend date of this dividend was Wednesday, September 10th.

Lundin Gold Company Profile

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.