Lundin Gold (OTCMKTS:LUGDF) Shares Down 5.1% – Here’s What Happened

Lundin Gold Inc. (OTCMKTS:LUGDF)’s stock price traded down 5.1% on Wednesday . The stock traded as low as C$75.27 and last traded at C$76.00. 41,369 shares were traded during mid-day trading, a decline of 12% from the average session volume of 46,760 shares. The stock had previously closed at C$80.06.

Wall Street Analysts Forecast Growth

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

Lundin Gold Stock Performance

The business has a 50-day moving average price of C$82.92 and a two-hundred day moving average price of C$77.06.

About Lundin Gold

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.