Lundin Gold (OTCMKTS:LUGDF) Shares Down 2.1% – Here’s Why

Shares of Lundin Gold Inc. (OTCMKTS:LUGDF) dropped 2.1% during mid-day trading on Thursday . The stock traded as low as C$67.36 and last traded at C$68.01. Approximately 105,524 shares traded hands during mid-day trading, an increase of 108% from the average daily volume of 50,616 shares. The stock had previously closed at C$69.45.

Analyst Ratings Changes

LUGDF has been the subject of several analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Lundin Gold in a research note on Tuesday, January 13th. Scotiabank reaffirmed a “sector perform” rating on shares of Lundin Gold in a research note on Monday, January 26th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Lundin Gold Stock Up 4.2%

The firm’s 50 day moving average is C$78.33 and its 200-day moving average is C$79.35.

About Lundin Gold

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.