Lundin Gold (TSE:LUG) Downgraded by Canaccord Genuity Group to “Hold”

Lundin Gold (TSE:LUG) was downgraded by research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

LUG has been the topic of several other research reports. Scotiabank increased their price objective on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. CIBC increased their price objective on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. National Bankshares increased their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Cormark raised their price target on Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given 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 an average target price of C$29.42.

Lundin Gold Trading Down 0.9 %

TSE LUG opened at C$34.60 on Tuesday. The company has a market cap of C$8.30 billion, a PE ratio of 26.82 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The stock has a 50 day moving average of C$29.30 and a 200-day moving average of C$23.67.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. On average, equities research analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Also, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Over the last three months, insiders have sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is currently owned by corporate insiders.

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.