Lundin Gold (TSE:LUG) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Lundin Gold Inc. (TSE:LUG) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$111.98 and traded as high as C$116.64. Lundin Gold shares last traded at C$116.58, with a volume of 463,218 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LUG shares. JPMorgan Chase & Co. boosted their target price on shares of Lundin Gold from C$16.00 to C$28.00 in a report on Friday, October 10th. CIBC boosted their price objective on Lundin Gold from C$116.00 to C$123.00 in a research note on Thursday, November 13th. Canaccord Genuity Group raised their target price on Lundin Gold from C$103.00 to C$108.00 in a research note on Wednesday, November 12th. BMO Capital Markets lifted their target price on Lundin Gold from C$108.00 to C$115.00 in a report on Tuesday, December 9th. Finally, Raymond James Financial upped their price target on Lundin Gold from C$65.00 to C$80.00 in a research report on Friday, October 10th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of C$78.04.

Lundin Gold Stock Up 0.7%

The company has a market cap of C$28.15 billion, a PE ratio of 41.19 and a beta of 1.21. The stock has a 50-day moving average of C$111.98 and a 200-day moving average of C$92.55.

Lundin Gold (TSE:LUG) last posted its earnings results on Friday, November 7th. The company reported C$0.86 EPS for the quarter. The business had revenue of C$622.58 million during the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%. Research analysts expect that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 22nd were given a $0.7058 dividend. This represents a $2.82 annualized dividend and a dividend yield of 2.4%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, December 5th. Lundin Gold’s dividend payout ratio (DPR) is currently 61.48%.

About Lundin Gold

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.