Scotiabank Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its price target raised by equities researchers at Scotiabank from C$30.00 to C$31.50 in a report issued on Wednesday,BayStreet.CA reports. Scotiabank’s price target indicates a potential downside of 6.67% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. TD Securities raised their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. CIBC upped their price objective on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$33.30.

Lundin Gold Stock Down 1.6 %

Shares of TSE:LUG traded down C$0.55 on Wednesday, reaching C$33.75. The company had a trading volume of 166,165 shares, compared to its average volume of 318,880. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a 50-day moving average price of C$32.06 and a 200 day moving average price of C$28.99. The stock has a market capitalization of C$8.10 billion, a P/E ratio of 26.16 and a beta of 1.23. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$35.89.

Lundin Gold (TSE:LUG) last released its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, beating the consensus estimate of C$0.60 by C$0.16. The business 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%. On average, equities analysts expect that Lundin Gold will post 2.5603448 EPS for the current year.

Insider Activity

In related news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were 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.

Lundin Gold Company Profile

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.