Lundin Gold (TSE:LUG) Stock Breaks Above Two Hundred Day Moving Average – Here’s Why

Lundin Gold Inc. (TSE:LUG) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$95.36 and traded as high as C$97.00. Lundin Gold shares last traded at C$95.87, with a volume of 914,508 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LUG shares. Desjardins reduced their price target on Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Royal Bank Of Canada lowered their price objective on Lundin Gold from C$98.00 to C$89.00 in a research report on Wednesday, September 16th. Finally, Canadian Imperial Bank of Commerce dropped their target price on Lundin Gold from C$137.00 to C$131.00 in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$108.40.

Lundin Gold Price Performance

The firm’s 50-day moving average is C$91.32 and its 200 day moving average is C$95.24. The stock has a market cap of C$23.79 billion, a price-to-earnings ratio of 25.57 and a beta of 1.86.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, November 5th. The company reported C$1.75 earnings per share for the quarter. Lundin Gold had a net margin of 46.31% and a return on equity of 81.63%. The company had revenue of C$901.15 million for the quarter. On average, sell-side analysts forecast that Lundin Gold Inc. will post 2.56 EPS for the current year.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were issued a $1.0934 dividend. The ex-dividend date was Thursday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.91. This represents a $4.37 dividend on an annualized basis and a yield of 4.4%. Lundin Gold’s payout ratio is 102.60%.

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.