Lundin Gold (OTCMKTS:LUGDF) Stock Price Down 5.1% – Time to Sell?

Shares of Lundin Gold Inc. (OTCMKTS:LUGDF) dropped 5.1% during trading on Wednesday . The company traded as low as C$75.27 and last traded at C$76.00. Approximately 41,369 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 46,760 shares. The stock had previously closed at C$80.06.

Analysts Set New Price Targets

A number of research analysts have recently commented on LUGDF shares. Scotiabank reaffirmed a “sector perform” rating on shares of Lundin Gold in a research report on Monday, January 26th. BMO Capital Markets reissued a “market perform” rating on shares of Lundin Gold in a report on Tuesday, January 13th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Lundin Gold in a research note on Sunday, December 7th. Seven investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Lundin Gold Trading Down 4.8%

The company has a fifty day moving average price of C$82.69 and a 200 day moving average price of C$77.02.

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.