Lundin Gold (OTCMKTS:LUGDF) Shares Down 2.2% – Here’s Why

Shares of Lundin Gold Inc. (OTCMKTS:LUGDF) fell 2.2% on Thursday . The company traded as low as C$79.78 and last traded at C$80.12. 91,163 shares were traded during mid-day trading, an increase of 27% from the average session volume of 71,891 shares. The stock had previously closed at C$81.96.

Wall Street Analysts Forecast Growth

LUGDF has been the topic of a number of research reports. CIBC reiterated a “neutral” rating on shares of Lundin Gold in a report on Monday, August 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Lundin Gold in a research report on Thursday, October 9th. Raymond James Financial reiterated a “market perform” rating on shares of Lundin Gold in a report on Friday, October 10th. Finally, Scotiabank reissued a “sector perform” rating on shares of Lundin Gold in a research note on Thursday, October 23rd. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Lundin Gold Stock Performance

The business’s 50 day moving average is C$68.48 and its 200 day moving average is C$56.71.

Lundin Gold Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.2992 per share. This represents a dividend yield of 184.0%. The ex-dividend date of this dividend was Wednesday, September 10th.

About Lundin Gold

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.