Lundin Gold (OTCMKTS:LUGDF) Trading Down 5.1% – Here’s What Happened

Lundin Gold Inc. (OTCMKTS:LUGDF) shares dropped 5.1% during mid-day trading on Wednesday . The stock traded as low as C$75.27 and last traded at C$76.00. Approximately 41,369 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 46,760 shares. The stock had previously closed at C$80.06.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating on shares of Lundin Gold in a research note on Sunday, December 7th. Scotiabank reiterated a “sector perform” rating on shares of Lundin Gold in a research note on Monday, January 26th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Lundin Gold in a report on Tuesday, January 13th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Lundin Gold Price Performance

The stock’s 50-day moving average is C$82.92 and its 200 day moving average is C$77.06.

About Lundin Gold

Lundin Gold Inc is a Vancouver-based gold mining company focused on the acquisition, exploration, development and operation of gold properties in South America. The company’s flagship asset is the Fruta del Norte underground gold mine, located in the province of Zamora-Chinchipe in southeast Ecuador. Commencing commercial production in mid-2021, Fruta del Norte combines high-grade epithermal vein mineralization with a modern processing facility to produce gold doré bars for sale on international markets.

Historically, the Fruta del Norte deposit was first identified in 2006 and later became the cornerstone of Lundin Gold through corporate restructuring that established the company as an independent public entity in 2019.