Lundin Gold (TSE:LUG) Stock Price Crosses Below 50 Day Moving Average of $14.37

Lundin Gold Inc. (TSE:LUG – Get Rating) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$14.37 and traded as low as C$13.43. Lundin Gold shares last traded at C$13.57, with a volume of 842,574 shares.

Analysts Set New Price Targets

LUG has been the topic of several research reports. Cormark raised their price objective on Lundin Gold from C$13.00 to C$13.50 in a report on Thursday, December 1st. CIBC raised their price objective on Lundin Gold from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, February 28th. Canaccord Genuity Group raised their price objective on Lundin Gold from C$17.00 to C$18.00 in a report on Tuesday, February 28th. National Bankshares raised their price objective on Lundin Gold from C$16.50 to C$17.50 and gave the stock a “sector perform” rating in a report on Tuesday, February 14th. Finally, Haywood Securities upgraded Lundin Gold from a “hold” rating to a “buy” rating and lifted their price target for the company from C$14.00 to C$16.50 in a report on Tuesday, January 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$16.07.

Lundin Gold Price Performance

The stock has a fifty day moving average price of C$14.37 and a 200-day moving average price of C$12.16. The firm has a market capitalization of C$3.20 billion, a PE ratio of 31.56 and a beta of 1.11. The company has a debt-to-equity ratio of 78.39, a quick ratio of 1.41 and a current ratio of 1.44.

Lundin Gold (TSE:LUG – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.16 by C$0.03. Lundin Gold had a return on equity of 8.83% and a net margin of 9.02%. The business had revenue of C$286.42 million for the quarter. Sell-side analysts forecast that Lundin Gold Inc. will post 0.9399022 EPS for the current fiscal year.

Lundin Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 31st will be given a $0.133 dividend. The ex-dividend date of this dividend is Friday, March 10th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.92%. Lundin Gold’s payout ratio is 125.58%.

Insider Transactions at Lundin Gold

In other news, Director Chantal Gosselin sold 34,500 shares of the firm’s stock in a transaction on Friday, January 20th. The stock was sold at an average price of C$15.02, for a total value of C$518,238.30. Following the completion of the sale, the director now owns 14,150 shares of the company’s stock, valued at approximately C$212,552.81. In other news, Senior Officer Nathan Saul Monash sold 11,000 shares of the firm’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of C$15.36, for a total value of C$168,911.60. Following the completion of the sale, the insider now owns 22,000 shares of the company’s stock, valued at approximately C$337,823.20. Also, Director Chantal Gosselin sold 34,500 shares of the firm’s stock in a transaction on Friday, January 20th. The stock was sold at an average price of C$15.02, for a total value of C$518,238.30. Following the completion of the sale, the director now directly owns 14,150 shares of the company’s stock, valued at approximately C$212,552.81. Insiders sold 52,000 shares of company stock valued at $784,420 in the last quarter. 63.10% of the stock is currently owned by corporate insiders.

Lundin Gold Company Profile

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Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 27 metallic mineral concessions and three construction material concessions covering an area of approximately 64,270 hectares located in Southeast Ecuador. It primary holds interests in the Fruta del Norte gold project comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.