Lundin Gold (TSE:LUG) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Lundin Gold Inc. (TSE:LUG)’s share price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$99.30 and traded as low as C$86.71. Lundin Gold shares last traded at C$88.47, with a volume of 627,607 shares.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Lundin Gold from C$91.00 to C$113.00 in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce upped their price objective on shares of Lundin Gold from C$123.00 to C$141.00 in a research note on Wednesday, February 4th. BMO Capital Markets decreased their price objective on shares of Lundin Gold from C$128.00 to C$119.00 in a research note on Monday, February 23rd. Finally, ATB Cormark Capital Markets raised shares of Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 price target on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lundin Gold presently has an average rating of “Hold” and a consensus target price of C$100.62.

Lundin Gold Stock Down 3.9%

The company’s fifty day simple moving average is C$99.30 and its two-hundred day simple moving average is C$108.53. The company has a market capitalization of C$21.39 billion, a price-to-earnings ratio of 23.47 and a beta of 1.57.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, May 7th. The company reported C$1.57 earnings per share for the quarter. The company 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%. Equities research analysts expect 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. Investors of record on Thursday, June 25th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, June 10th. Lundin Gold’s payout ratio is currently 84.62%.

About Lundin Gold

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.