Lundin Gold (TSE:LUG) PT Raised to C$25.00 at Cormark

Lundin Gold (TSE:LUG) had its price objective increased by equities researchers at Cormark from C$23.00 to C$25.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Cormark’s price target would suggest a potential upside of 7.81% from the company’s current price. Cormark also issued estimates for Lundin Gold’s FY2024 earnings at $1.80 EPS.

Several other research firms also recently weighed in on LUG. Veritas Investment Research upped their price target on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research note on Friday, May 10th. Jefferies Financial Group upped their price target on Lundin Gold from C$23.00 to C$24.00 in a research note on Thursday, June 6th. Canaccord Genuity Group increased their target price on Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday, April 23rd. Finally, Scotiabank increased their target price on Lundin Gold from C$21.00 to C$23.50 in a research report on Thursday, May 23rd. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$23.50.

Lundin Gold Trading Up 2.8 %

Shares of TSE:LUG opened at C$23.19 on Wednesday. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$23.34. The company has a current ratio of 3.08, a quick ratio of 1.41 and a debt-to-equity ratio of 33.65. The company has a market cap of C$5.54 billion, a PE ratio of 24.16 and a beta of 1.14. The stock has a 50 day moving average of C$20.02 and a 200 day moving average of C$18.06.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.01). Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. The business had revenue of C$305.68 million during the quarter. As a group, equities research analysts expect that Lundin Gold will post 1.6959518 EPS for the current year.

Insider Activity at Lundin Gold

In related news, Director Ian Gibbs sold 30,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. In related news, Director Ian Gibbs sold 30,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. Also, Senior Officer Chester See sold 30,100 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. In the last 90 days, insiders have sold 110,100 shares of company stock worth $2,219,753. Company insiders own 58.99% 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.