Lundin Gold (TSE:LUG) Stock Crosses Below Fifty Day Moving Average – Time to Sell?

Shares of Lundin Gold Inc. (TSE:LUG) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$83.07 and traded as low as C$75.50. Lundin Gold shares last traded at C$76.02, with a volume of 459,009 shares trading hands.

Wall Street Analyst Weigh In

LUG has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on Lundin Gold from C$90.00 to C$88.00 in a research report on Monday, July 6th. ATB Cormark Capital Markets raised Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 target price on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$99.67.

Lundin Gold Stock Performance

The stock has a market cap of C$18.38 billion, a price-to-earnings ratio of 20.16 and a beta of 1.64. The company’s 50 day simple moving average is C$83.07 and its 200 day simple moving average is C$100.84.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$1.57 earnings per share for the quarter. Lundin Gold had a return on equity of 68.29% and a net margin of 45.73%.The business had revenue of C$788.83 million during the quarter. Sell-side analysts predict that Lundin Gold Inc. will post 2.5603448 EPS for the current year.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, June 10th. Lundin Gold’s dividend payout ratio is currently 84.62%.

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.