Lundin Gold (TSE:LUG) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Lundin Gold Inc. (TSE:LUG)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$83.07 and traded as low as C$75.50. Lundin Gold shares last traded at C$76.02, with a volume of 459,009 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on LUG. Jefferies Financial Group cut their price objective on Lundin Gold from C$90.00 to C$88.00 in a research note on Monday, July 6th. 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. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$102.36.

Lundin Gold Stock Up 2.1%

The company has a market capitalization of C$18.58 billion, a price-to-earnings ratio of 20.38 and a beta of 1.64. The stock has a 50 day simple moving average of C$82.73 and a 200 day simple moving average of C$100.53.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$1.57 earnings per share for the quarter. Lundin Gold had a return on equity of 68.29% and a net margin of 45.73%.The business had revenue of C$788.83 million for the quarter. As a group, analysts forecast that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 25th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $3.64 annualized dividend and a yield of 4.7%. Lundin Gold’s dividend payout ratio (DPR) is currently 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.