Lundin Gold (TSE:LUG) Stock Crosses Above 50-Day Moving Average – Should You Sell?

Lundin Gold Inc. (TSE:LUG) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$32.83 and traded as high as C$35.11. Lundin Gold shares last traded at C$34.39, with a volume of 192,054 shares changing hands.

Analyst Upgrades and Downgrades

LUG has been the topic of several recent analyst reports. Scotiabank upped their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. TD Securities upped their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Royal Bank of Canada increased their price target on shares of Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Finally, Cormark upgraded shares of Lundin Gold from a “market perform” rating to a “buy” rating and increased their price target for the stock from C$35.00 to C$38.00 in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$33.30.

Lundin Gold Stock Down 0.8 %

The firm has a market cap of C$8.25 billion, a price-to-earnings ratio of 26.66 and a beta of 1.23. The business’s 50 day moving average price is C$32.83 and its 200 day moving average price is C$30.02. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The firm had revenue of C$440.77 million for the quarter. On average, equities analysts forecast that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.33%. Lundin Gold’s dividend payout ratio (DPR) is 82.95%.

Insider Activity

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Insiders own 58.72% of the company’s stock.

About Lundin Gold

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.