Cormark Upgrades Lundin Gold (TSE:LUG) to Buy

Lundin Gold (TSE:LUG) was upgraded by Cormark from a “market perform” rating to a “buy” rating in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a C$38.00 price objective on the stock, up from their prior price objective of C$35.00. Cormark’s price target suggests a potential upside of 12.29% from the company’s current price.

Several other brokerages have also issued reports on LUG. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their target price for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Scotiabank cut their price objective on shares of Lundin Gold from C$31.50 to C$30.00 in a research report on Tuesday, December 10th. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and reduced their target price for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, CIBC boosted their price target on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and an average target price of C$33.15.

Lundin Gold Trading Up 3.0 %

Shares of TSE:LUG opened at C$33.84 on Friday. The business has a 50-day moving average price of C$32.01 and a 200-day moving average price of C$28.73. The stock has a market cap of C$8.12 billion, a price-to-earnings ratio of 26.23 and a beta of 1.23. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, beating 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 business had revenue of C$440.77 million during the quarter. Equities analysts predict that Lundin Gold will post 2.5603448 EPS for the current year.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is owned by 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.