Lundin Gold (TSE:LUG) Price Target Cut to C$30.00 by Analysts at Scotiabank

Lundin Gold (TSE:LUG) had its price target cut by analysts at Scotiabank from C$31.50 to C$30.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Scotiabank’s target price points to a potential downside of 9.06% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Cormark increased their price objective on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. National Bankshares boosted their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Desjardins raised Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lundin Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.63.

Lundin Gold Stock Down 2.3 %

Shares of TSE LUG opened at C$32.99 on Tuesday. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The firm has a market capitalization of C$7.92 billion, a price-to-earnings ratio of 25.57 and a beta of 1.23. The stock has a 50 day moving average price of C$32.75 and a 200 day moving average price of C$26.99. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share 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 business had revenue of C$440.77 million during the quarter. Sell-side analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction on Monday, September 23rd. The shares were 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 company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. Over the last ninety days, insiders sold 56,840 shares of company stock worth $1,686,209. 58.72% of the stock is 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.