Lundin Gold (TSE:LUG) Shares Cross Below Fifty Day Moving Average – Should You Sell?

Shares of Lundin Gold Inc. (TSE:LUG) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$90.47 and traded as low as C$73.51. Lundin Gold shares last traded at C$74.75, with a volume of 731,002 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank Of Canada upped their price target on Lundin Gold from C$91.00 to C$113.00 in a research note on Thursday, March 12th. ATB Cormark Capital Markets raised Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 price objective on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Lundin Gold currently has an average rating of “Hold” and an average price target of C$101.58.

Lundin Gold Price Performance

The firm’s 50-day moving average price is C$90.47 and its 200-day moving average price is C$104.55. The company has a market cap of C$18.08 billion, a price-to-earnings ratio of 19.83 and a beta of 1.52.

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

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 25th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.64 annualized dividend and a yield of 4.9%. Lundin Gold’s dividend payout ratio (DPR) is 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.