Lundin Gold (TSE:LUG) Shares Cross Below Fifty Day Moving Average – Here’s Why

Lundin Gold Inc. (TSE:LUG) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$32.39 and traded as low as C$30.04. Lundin Gold shares last traded at C$30.66, with a volume of 234,897 shares.

Wall Street Analysts Forecast Growth

LUG has been the topic of several research analyst reports. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. CIBC increased their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. TD Securities upped their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lundin Gold currently has an average rating of “Moderate Buy” and a consensus price target of C$32.55.

Lundin Gold Stock Up 4.1 %

The firm has a fifty day simple moving average of C$32.31 and a 200-day simple moving average of C$28.20. The company has a market capitalization of C$7.66 billion, a PE ratio of 24.74 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The firm had revenue of C$440.77 million for the quarter. Equities research analysts anticipate that Lundin Gold Inc. will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 82.95%.

Lundin Gold Company Profile

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.