Scotiabank Raises Lundin Gold (TSE:LUG) Price Target to C$31.50

Lundin Gold (TSE:LUG) had its price target hoisted by analysts at Scotiabank from C$30.00 to C$31.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s price objective indicates a potential downside of 7.49% from the company’s current price.

A number of other brokerages have also weighed in on LUG. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Desjardins raised Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Cormark upgraded shares of Lundin Gold from a “market perform” rating to a “buy” rating and increased their price target for the stock from C$35.00 to C$38.00 in a report on Friday, January 10th. Finally, TD Securities lifted their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.30.

Lundin Gold Price Performance

Shares of TSE LUG opened at C$34.05 on Wednesday. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89. The company has a market cap of C$8.17 billion, a PE ratio of 26.40 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The business has a 50-day simple moving average of C$32.15 and a two-hundred day simple moving average of C$29.12.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating the consensus estimate of C$0.60 by C$0.16. The firm 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%. As a group, equities analysts expect that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Insider Transactions at Lundin Gold

In other Lundin Gold 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 transaction of C$355,001.16. Corporate 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.