Lundin Gold (TSE:LUG) Raised to Outperform at National Bankshares

Lundin Gold (TSE:LUG) was upgraded by equities research analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a report issued on Monday, BayStreet.CA reports. The firm currently has a C$27.75 price objective on the stock, up from their prior price objective of C$25.25. National Bankshares’ price objective points to a potential upside of 26.14% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday, April 23rd. Cormark boosted their price target on shares of Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Scotiabank upped their price objective on shares of Lundin Gold from C$21.00 to C$23.50 in a report on Thursday, May 23rd. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a report on Friday, May 10th. Finally, Jefferies Financial Group upped their price objective on shares of Lundin Gold from C$23.00 to C$24.00 in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$23.15.

Lundin Gold Stock Performance

Shares of LUG opened at C$22.00 on Monday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$22.17. The company has a market cap of C$5.26 billion, a price-to-earnings ratio of 22.92 and a beta of 1.14. The company has a debt-to-equity ratio of 33.65, a quick ratio of 1.41 and a current ratio of 3.08. The firm has a fifty day moving average of C$19.85 and a 200-day moving average of C$17.99.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.33 by C($0.01). Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%. The firm had revenue of C$305.68 million for the quarter. As a group, equities analysts anticipate that Lundin Gold will post 1.6959518 earnings per share for the current year.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 50,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of C$20.25, for a total value of C$1,012,500.00. In other Lundin Gold news, Senior Officer Chester See sold 50,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of C$20.25, for a total value of C$1,012,500.00. Also, Director Ian Gibbs sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. Over the last three months, insiders have sold 110,100 shares of company stock worth $2,219,753. 58.99% of the stock is owned by corporate insiders.

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.