CIBC Boosts Lundin Gold (TSE:LUG) Price Target to C$41.00

Lundin Gold (TSE:LUG) had its price objective hoisted by research analysts at CIBC from C$34.00 to C$41.00 in a research note issued on Monday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 26.04% from the stock’s current price.

A number of other research firms have also weighed in on LUG. Jefferies Financial Group increased their price target on Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. National Bankshares raised their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Cormark raised their price target on Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Canaccord Genuity Group downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Raymond James downgraded Lundin Gold from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.50.

Lundin Gold Price Performance

TSE:LUG traded down C$0.03 during mid-day trading on Monday, reaching C$32.53. 130,082 shares of the stock were exchanged, compared to its average volume of 275,081. The business has a fifty day moving average price of C$32.00 and a 200 day moving average price of C$26.19. The firm has a market capitalization of C$7.81 billion, a PE ratio of 25.22 and a beta of 1.23. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.89. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last released its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Research analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. Insiders have sold a total of 72,840 shares of company stock valued at $2,146,122 in the last 90 days. 58.72% 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.