Lundin Gold (TSE:LUG) Stock Rating Lowered by CIBC

Lundin Gold (TSE:LUG) was downgraded by stock analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They currently have a C$44.00 price target on the stock, up from their prior price target of C$41.00. CIBC’s target price would indicate a potential upside of 0.92% from the stock’s current price.

LUG has been the topic of several other reports. Desjardins lifted their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and lowered their price target for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Cormark cut Lundin Gold from a “moderate buy” rating to a “hold” rating in a report on Thursday, February 20th. TD Securities lifted their target price on Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada lifted their target price on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$35.45.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$43.60 on Thursday. Lundin Gold has a 1 year low of C$18.08 and a 1 year high of C$45.82. The stock has a market cap of C$7.44 billion, a PE ratio of 24.47 and a beta of 1.23. The business’s fifty day moving average is C$38.73 and its 200-day moving average is C$33.96.

Insider Activity at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, Director Ian Gibbs sold 14,200 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of C$41.40, for a total value of C$587,880.00. Over the last 90 days, insiders sold 144,685 shares of company stock valued at $5,854,985. 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.