Lundin Gold (OTCMKTS:LUGDF) Trading Up 6.8% – Still a Buy?

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

Analyst Upgrades and Downgrades

LUGDF has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “market perform” rating on shares of Lundin Gold in a report on Friday. UBS Group started coverage on Lundin Gold in a research note on Thursday, May 28th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Lundin Gold presently has a consensus rating of “Hold”.

Lundin Gold Trading Up 6.8%

The stock’s 50 day moving average price is C$56.89 and its 200 day moving average price is C$69.97.

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.