Lundin Gold (OTCMKTS:LUGDF) Trading Up 6.8% – Here’s What Happened

Lundin Gold Inc. (OTCMKTS:LUGDF)’s share price shot up 6.8% during mid-day trading on Monday . The company traded as high as C$85.00 and last traded at C$84.82. 27,458 shares traded hands during trading, a decline of 35% from the average session volume of 42,113 shares. The stock had previously closed at C$79.42.

Analyst Ratings Changes

LUGDF has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Lundin Gold in a research report on Sunday, December 7th. BMO Capital Markets reissued a “market perform” rating on shares of Lundin Gold in a report on Tuesday, January 13th. Finally, Scotiabank restated a “sector perform” rating on shares of Lundin Gold in a research report on Monday, January 26th. Seven equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Lundin Gold Price Performance

The firm’s 50-day simple moving average is C$82.73 and its two-hundred day simple moving average is C$74.01.

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.