Lundin Gold (OTCMKTS:LUGDF) Stock Price Down 2.9% – Here’s What Happened

Lundin Gold Inc. (OTCMKTS:LUGDF)’s stock price dropped 2.9% during trading on Monday . The company traded as low as C$52.85 and last traded at C$53.75. Approximately 50,751 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 54,432 shares. The stock had previously closed at C$55.36.

Analyst Ratings Changes

Separately, UBS Group started coverage on Lundin Gold in a research note on Thursday, May 28th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Lundin Gold Stock Down 0.7%

The firm has a 50 day moving average price of C$59.82 and a 200 day moving average price of C$73.26.

Lundin Gold Company Profile

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.