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

Lundin Gold (TSE:LUG) had its price objective upped by equities research analysts at Scotiabank from C$25.50 to C$31.50 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential downside of 5.41% from the stock’s current price.

A number of other research analysts also recently commented on the company. Royal Bank of Canada increased their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. 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 report on Thursday, October 17th. National Bankshares increased their price target on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Cormark increased their price target on Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a report on Thursday, October 10th. Finally, Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Four equities research 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. According to MarketBeat, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$29.92.

Lundin Gold Price Performance

LUG stock opened at C$33.30 on Thursday. The stock has a 50-day moving average price of C$31.59 and a two-hundred day moving average price of C$25.60. Lundin Gold has a 12-month low of C$14.23 and a 12-month 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. The company has a market cap of C$7.99 billion, a PE ratio of 25.62 and a beta of 1.23.

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

Insider Activity at Lundin Gold

In related news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 worth $2,146,122 in the last three months. 58.72% of the stock is owned by company 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.