Lundin Gold (TSE:LUG) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Lundin Gold Inc. (TSE:LUG) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$89.06 and traded as high as C$92.39. Lundin Gold shares last traded at C$91.15, with a volume of 409,187 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Lundin Gold from C$90.00 to C$88.00 in a report on Monday, July 6th. Desjardins dropped their target price on Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce reduced their price target on Lundin Gold from C$137.00 to C$131.00 in a research report on Monday, August 10th. Finally, Royal Bank Of Canada cut their target price on shares of Lundin Gold from C$98.00 to C$89.00 in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$99.33.

Lundin Gold Stock Up 1.1%

The stock has a fifty day moving average of C$89.33 and a 200-day moving average of C$93.51. The stock has a market capitalization of C$22.07 billion, a price-to-earnings ratio of 23.71 and a beta of 1.64.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share 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 during the quarter. On average, equities analysts forecast that Lundin Gold Inc. will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 25th will be issued a dividend of $1.0934 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.91. This represents a $4.37 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, September 10th. Lundin Gold’s dividend payout ratio is currently 102.60%.

Lundin Gold Company Profile

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.