Lundin Gold (TSE:LUG) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Lundin Gold Inc. (TSE:LUG)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$109.29 and traded as high as C$116.57. Lundin Gold shares last traded at C$114.02, with a volume of 195,928 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. BMO Capital Markets raised their price objective on Lundin Gold from C$108.00 to C$115.00 in a research note on Tuesday, December 9th. CIBC boosted their target price on Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. Raymond James Financial increased their price target on Lundin Gold from C$65.00 to C$80.00 in a report on Friday, October 10th. Finally, Jefferies Financial Group lifted their price target on shares of Lundin Gold from C$96.00 to C$111.00 in a research report on Monday, December 8th. Eight investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of C$78.04.

Lundin Gold Trading Down 2.4%

The stock has a fifty day simple moving average of C$109.61 and a 200-day simple moving average of C$90.84. The stock has a market cap of C$26.85 billion, a price-to-earnings ratio of 39.31 and a beta of 1.19.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Friday, November 7th. The company reported C$0.86 EPS for the quarter. The company had revenue of C$622.58 million during the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%. Sell-side analysts forecast that Lundin Gold Inc. will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 22nd were given a $0.7058 dividend. The ex-dividend date was Friday, December 5th. This represents a $2.82 annualized dividend and a yield of 2.5%. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.68. Lundin Gold’s dividend payout ratio (DPR) is 61.48%.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.