Lundin Gold (TSE:LUG) Lowered to “Hold” Rating by Jefferies Financial Group

Lundin Gold (TSE:LUG) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$36.00 price objective on the stock, down from their prior price objective of C$37.00. Jefferies Financial Group’s price target would suggest a potential upside of 9.69% from the stock’s previous close.

Several other research firms have also commented on LUG. National Bankshares upped 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. CIBC increased their price objective on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Royal Bank of Canada increased their price objective on Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th. Canaccord Genuity Group downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$30.63.

Lundin Gold Stock Down 2.8 %

Shares of LUG traded down C$0.93 during mid-day trading on Wednesday, hitting C$32.82. 284,142 shares of the company traded hands, compared to its average volume of 278,540. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.89. 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 company has a market capitalization of C$7.88 billion, a PE ratio of 25.43 and a beta of 1.23. The business has a 50 day moving average of C$32.68 and a 200 day moving average of C$26.90.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating analysts’ consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Equities research analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current year.

Insiders Place Their Bets

In other news, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Insiders sold 72,840 shares of company stock valued at $2,146,122 in the last three months. 58.72% of the stock is currently owned by insiders.

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.