Lundin Gold (TSE:LUG) Upgraded at Cormark

Lundin Gold (TSE:LUG) was upgraded by stock analysts at Cormark from a “market perform” rating to a “buy” rating in a research report issued on Friday,BayStreet.CA reports. The firm presently has a C$38.00 target price on the stock, up from their previous target price of C$35.00. Cormark’s price objective would indicate a potential upside of 11.90% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Raymond James cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Scotiabank reduced their price objective on Lundin Gold from C$31.50 to C$30.00 in a report on Tuesday, December 10th. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. TD Securities boosted their target price on Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Finally, Royal Bank of Canada raised their price target on Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$33.15.

Lundin Gold Price Performance

Shares of TSE:LUG traded up C$1.09 during midday trading on Friday, reaching C$33.96. 270,185 shares of the company’s stock were exchanged, compared to its average volume of 283,616. 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 company’s 50 day simple moving average is C$32.00 and its two-hundred day simple moving average is C$28.64. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The firm has a market capitalization of C$8.15 billion, a PE ratio of 26.33 and a beta of 1.23.

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

Insiders Place Their Bets

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value 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.