Lundin Gold (TSE:LUG) Stock Price Expected to Rise, Scotiabank Analyst Says

Lundin Gold (TSE:LUG) had its price target upped by equities research analysts at Scotiabank from C$25.50 to C$31.50 in a note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s target price suggests a potential downside of 5.41% from the company’s current price.

Several other brokerages have also recently issued reports on LUG. Raymond James cut shares of 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 research report on Monday, September 23rd. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CIBC raised their target price on shares of Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Cormark raised their target price on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a report on Thursday, October 10th. Four investment 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 stock. Based on data from MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus target price of C$29.92.

Lundin Gold Trading Up 1.3 %

Shares of LUG opened at C$33.30 on Thursday. 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 firm has a market capitalization of C$7.99 billion, a P/E ratio of 25.62 and a beta of 1.23. The firm has a 50-day moving average price of C$31.59 and a 200 day moving average price of C$25.60. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$35.89.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping the consensus estimate of C$0.60 by C$0.16. The company had revenue of C$440.77 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. Sell-side analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. Also, Senior Officer Terrence Smith sold 25,740 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Insiders have sold a total of 72,840 shares of company stock worth $2,146,122 in the last three months. 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.