Lundin Gold (TSE:LUG) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Lundin Gold (TSE:LUG) had its target price upped by equities research analysts at Royal Bank of Canada from C$27.00 to C$31.00 in a note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential downside of 10.51% from the company’s previous close.

LUG has been the subject of a number of other reports. Raymond James downgraded Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. TD Securities increased their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Jefferies Financial Group increased their price objective on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Cormark increased their price objective on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Finally, Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$30.83.

Lundin Gold Stock Performance

Shares of Lundin Gold stock opened at C$34.64 on Friday. 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 business has a 50-day moving average price of C$32.46 and a two-hundred day moving average price of C$26.64. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.89. The company has a market cap of C$8.31 billion, a P/E ratio of 26.85 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$440.77 million during the quarter. As a group, analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current year.

Insider Activity at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total transaction of C$477,891.90. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. In the last quarter, insiders have sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is owned by corporate insiders.

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.