Lundin Gold (TSE:LUG) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Lundin Gold Inc. (TSE:LUG - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$32.83 and traded as high as C$35.11. Lundin Gold shares last traded at C$34.39, with a volume of 192,054 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LUG shares. TD Securities lifted their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. CIBC lifted their price target on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Royal Bank of Canada lifted their price objective on Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Cormark raised Lundin Gold from a "market perform" rating to a "buy" rating and upped their price target for the stock from C$35.00 to C$38.00 in a research note on Friday, January 10th. Finally, BMO Capital Markets downgraded shares of Lundin Gold from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lundin Gold presently has an average rating of "Moderate Buy" and a consensus price target of C$33.30.

Lundin Gold Stock Up 4.1 %

The business's fifty day simple moving average is C$32.83 and its two-hundred day simple moving average is C$30.02. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market cap of C$8.59 billion, a PE ratio of 27.74 and a beta of 1.23.

Lundin Gold (TSE:LUG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating analysts' consensus estimates of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The business had revenue of C$440.77 million during the quarter. On average, analysts predict that Lundin Gold Inc. will post 2.5603448 earnings per share for the current year.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.24%. Lundin Gold's payout ratio is presently 82.95%.

Insider Activity at Lundin Gold

In related news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Company insiders own 58.72% of the company's stock.

About Lundin Gold

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.