Scotiabank Increases Lundin Gold (TSE:LUG) Price Target to C$31.50

Lundin Gold (TSE:LUG) had its price objective increased by equities researchers at Scotiabank from C$30.00 to C$31.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential downside of 6.67% from the stock’s previous close.

Several other research analysts also recently commented on the stock. CIBC lifted their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$33.30.

Lundin Gold Stock Down 1.6 %

Shares of LUG stock traded down C$0.55 on Wednesday, reaching C$33.75. 166,165 shares of the company were exchanged, compared to its average volume of 318,880. 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 has a one year low of C$14.23 and a one year high of C$35.89. The company has a 50-day moving average of C$32.06 and a 200-day moving average of C$28.99. The company has a market cap of C$8.10 billion, a price-to-earnings ratio of 26.16 and a beta of 1.23.

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

Insider Transactions at Lundin Gold

In related news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. Corporate insiders own 58.72% of the company’s stock.

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.