Lundin Gold (TSE:LUG) Cut to “Neutral” at CIBC

Lundin Gold (TSE:LUG) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a research report issued on Thursday,BayStreet.CA reports. They presently have a C$44.00 price objective on the stock, up from their previous price objective of C$41.00. CIBC’s price objective indicates a potential upside of 0.92% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Desjardins lifted their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Cormark lowered Lundin Gold from a “moderate buy” rating to a “hold” rating in a research note on Thursday, February 20th. TD Securities lifted their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Scotiabank boosted their price target on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$35.45.

Lundin Gold Stock Performance

Lundin Gold stock opened at C$43.60 on Thursday. The business’s 50-day simple moving average is C$38.73 and its 200-day simple moving average is C$33.96. The firm has a market capitalization of C$7.44 billion, a PE ratio of 24.47 and a beta of 1.23. Lundin Gold has a 52 week low of C$18.08 and a 52 week high of C$45.82.

Insider Transactions at Lundin Gold

In other news, Director Ian Gibbs sold 14,200 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of C$41.40, for a total value of C$587,880.00. Also, Senior Officer Chester See sold 5,800 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. In the last quarter, insiders have sold 144,685 shares of company stock valued at $5,854,985. 58.72% of the stock is owned by 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.