Lundin Gold (OTCMKTS:LUGDF) Stock Price Up 6.8% – Time to Buy?

Lundin Gold Inc. (OTCMKTS:LUGDF)’s share price was up 6.8% on Friday . The company traded as high as C$66.64 and last traded at C$66.01. Approximately 73,870 shares traded hands during trading, an increase of 40% from the average session volume of 52,641 shares. The stock had previously closed at C$61.81.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BMO Capital Markets restated a “market perform” rating on shares of Lundin Gold in a research report on Friday. UBS Group assumed coverage on Lundin Gold in a research report on Thursday, May 28th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

Lundin Gold Trading Up 6.8%

The business has a 50-day moving average of C$56.89 and a two-hundred day moving average of C$69.97.

Lundin Gold Company Profile

Lundin Gold Inc is a Vancouver-based gold mining company focused on the acquisition, exploration, development and operation of gold properties in South America. The company’s flagship asset is the Fruta del Norte underground gold mine, located in the province of Zamora-Chinchipe in southeast Ecuador. Commencing commercial production in mid-2021, Fruta del Norte combines high-grade epithermal vein mineralization with a modern processing facility to produce gold doré bars for sale on international markets.

Historically, the Fruta del Norte deposit was first identified in 2006 and later became the cornerstone of Lundin Gold through corporate restructuring that established the company as an independent public entity in 2019.