Cormark Downgrades Lundin Gold (TSE:LUG) to Hold

Lundin Gold (TSE:LUG) was downgraded by equities research analysts at Cormark from a “moderate buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports. Cormark also issued estimates for Lundin Gold’s FY2025 earnings at $2.39 EPS.

Several other equities analysts have also recently commented on the stock. CIBC raised their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Desjardins raised their price objective on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Royal Bank of Canada lifted their price target on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and decreased their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$34.45.

Lundin Gold Price Performance

Shares of Lundin Gold stock opened at C$39.67 on Thursday. Lundin Gold has a 1-year low of C$15.12 and a 1-year high of C$41.28. The company has a market capitalization of C$6.77 billion, a P/E ratio of 22.27 and a beta of 1.23. The business’s fifty day moving average price is C$34.55 and its two-hundred day moving average price is C$31.71.

Insider Buying and Selling at Lundin Gold

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

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.