Lundin Gold (TSE:LUG) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Lundin Gold Inc. (TSE:LUG) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$95.44 and traded as low as C$90.25. Lundin Gold shares last traded at C$90.80, with a volume of 457,138 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LUG. Canadian Imperial Bank of Commerce dropped their price target on shares of Lundin Gold from C$137.00 to C$131.00 in a research report on Monday, August 10th. ATB Cormark Capital Markets upgraded shares of Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 price objective for the company in a research report on Friday, May 8th. Jefferies Financial Group lowered their target price on shares of Lundin Gold from C$90.00 to C$88.00 in a research note on Monday, July 6th. Finally, Desjardins dropped their target price on Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$101.33.

Lundin Gold Stock Up 10.8%

The firm has a market capitalization of C$23.31 billion, a PE ratio of 25.04 and a beta of 1.62. The stock has a 50-day moving average price of C$81.08 and a 200 day moving average price of C$95.19.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. Lundin Gold had a return on equity of 81.63% and a net margin of 46.31%.The firm had revenue of C$678.70 million for the quarter. As a group, equities analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 25th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, June 10th. This represents a $3.64 dividend on an annualized basis and a yield of 3.8%. Lundin Gold’s dividend payout ratio is currently 102.60%.

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.