Lundin Gold (TSE:LUG) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Lundin Gold Inc. (TSE:LUG) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$32.39 and traded as low as C$30.04. Lundin Gold shares last traded at C$30.66, with a volume of 234,897 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. TD Securities increased their target price on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Finally, Cormark lifted their target price on Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$32.55.

Lundin Gold Price Performance

The firm has a fifty day moving average of C$32.39 and a two-hundred day moving average of C$28.11. The stock has a market capitalization of C$7.36 billion, a P/E ratio of 23.77 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

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

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. Lundin Gold’s dividend payout ratio is presently 82.95%.

Lundin Gold Company Profile

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.