Lundin Gold (TSE:LUG) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Shares of Lundin Gold Inc. (TSE:LUG) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$85.16 and traded as high as C$99.98. Lundin Gold shares last traded at C$98.71, with a volume of 602,261 shares traded.

Analysts Set New Price Targets

LUG has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce decreased their price target on Lundin Gold from C$137.00 to C$131.00 in a research note on Monday, August 10th. 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. Jefferies Financial Group cut their price target on shares of Lundin Gold from C$90.00 to C$88.00 in a report on Monday, July 6th. Finally, Desjardins reduced their price objective on shares of Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$101.33.

Lundin Gold Price Performance

The firm has a market cap of C$23.28 billion, a PE ratio of 25.00 and a beta of 1.62. The business has a 50-day moving average price of C$85.50 and a two-hundred day moving average price of C$94.78.

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

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 25th will be issued a dividend of $1.0934 per share. This represents a $4.37 annualized dividend and a dividend yield of 4.5%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.91. The ex-dividend date is Thursday, September 10th. Lundin Gold’s payout ratio is 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.