Lundin Gold (TSE:LUG) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Lundin Gold Inc. (TSE:LUG) shares crossed 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 changing hands.

Analysts Set New Price Targets

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

Lundin Gold Stock Performance

The company’s 50 day moving average price is C$91.44 and its 200-day moving average price is C$95.36. The company has a market cap of C$23.17 billion, a PE ratio of 24.90 and a beta of 1.86.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, November 5th. The company reported C$1.75 EPS for the quarter. Lundin Gold had a return on equity of 81.63% and a net margin of 46.31%. The business had revenue of C$901.15 million for the quarter. Equities research analysts expect 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. Shareholders of record on Friday, September 25th were paid a $1.0934 dividend. The ex-dividend date was Thursday, September 10th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.91. This represents a $4.37 annualized dividend and a dividend yield of 4.6%. Lundin Gold’s dividend payout ratio is presently 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.