Raymond James Lowers Lundin Gold (TSE:LUG) to Market Perform

Lundin Gold (TSE:LUG) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Monday, BayStreet.CA reports. They presently have a C$29.00 price objective on the stock, up from their previous price objective of C$25.00. Raymond James’ price target indicates a potential downside of 2.42% from the stock’s previous close.

Several other brokerages have also issued reports on LUG. Cormark increased their price target on Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. National Bank Financial raised shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. TD Securities increased their price target on Lundin Gold from C$24.00 to C$27.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Scotiabank upped their price objective on Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Finally, CIBC lifted their target price on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus price target of C$27.42.

Lundin Gold Price Performance

Shares of LUG traded down C$0.29 during trading hours on Monday, reaching C$29.72. The stock had a trading volume of 234,970 shares, compared to its average volume of 262,770. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$30.64. The stock has a market capitalization of C$7.13 billion, a PE ratio of 23.18 and a beta of 1.23. The company’s 50-day moving average is C$25.58 and its two-hundred day moving average is C$21.59.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The firm had revenue of C$412.43 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. Research analysts expect that Lundin Gold will post 2.5613577 EPS for the current year.

Insider Activity

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. In other Lundin Gold news, 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. Also, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. In the last 90 days, insiders have sold 57,940 shares of company stock worth $1,697,632. Corporate insiders own 58.75% 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.