Lundin Gold (OTCMKTS:LUGDF) Trading 3.6% Higher – Here’s What Happened

Shares of Lundin Gold Inc. (OTCMKTS:LUGDF) shot up 3.6% on Tuesday . The stock traded as high as C$90.00 and last traded at C$89.48. 35,073 shares changed hands during trading, a decline of 19% from the average session volume of 43,337 shares. The stock had previously closed at C$86.34.

Analyst Ratings Changes

LUGDF has been the topic of several research reports. BMO Capital Markets reiterated a “market perform” rating on shares of Lundin Gold in a research report on Tuesday, January 13th. Scotiabank reiterated a “sector perform” rating on shares of Lundin Gold in a report on Monday. Jefferies Financial Group reissued a “hold” rating on shares of Lundin Gold in a research note on Sunday, December 7th. Finally, Raymond James Financial restated a “market perform” rating on shares of Lundin Gold in a research report on Friday, October 10th. Seven analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Lundin Gold has an average rating of “Hold”.

Lundin Gold Stock Performance

The business’s 50 day simple moving average is C$82.99 and its 200 day simple moving average is C$69.85.

Lundin Gold Company Profile

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.