Cibc World Mkts Downgrades Lundin Gold (TSE:LUG) to Hold

Lundin Gold (TSE:LUG - Get Free Report) was downgraded by investment analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the stock. BMO Capital Markets lowered shares of Lundin Gold from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 10th. CIBC cut shares of Lundin Gold from an "outperform" rating to a "neutral" rating and boosted their price target for the stock from C$41.00 to C$44.00 in a research report on Thursday, March 20th. Cormark cut Lundin Gold from a "moderate buy" rating to a "hold" rating in a report on Thursday, February 20th. Royal Bank of Canada lifted their target price on Lundin Gold from C$31.00 to C$35.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, TD Securities increased their price target on Lundin Gold from C$40.00 to C$46.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$35.45.

Lundin Gold Price Performance

Shares of LUG traded down C$0.46 during midday trading on Thursday, hitting C$42.83. The stock had a trading volume of 239,900 shares, compared to its average volume of 416,714. The firm has a market cap of C$7.31 billion, a price-to-earnings ratio of 24.04 and a beta of 1.23. The company has a 50 day simple moving average of C$39.10 and a two-hundred day simple moving average of C$34.30. Lundin Gold has a twelve month low of C$18.08 and a twelve month high of C$45.82.

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Insider Transactions at Lundin Gold

In related news, Director Ian Gibbs sold 14,200 shares of Lundin Gold stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of C$41.40, for a total transaction of C$587,880.00. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total value of C$413,226.00. In the last 90 days, insiders sold 144,685 shares of company stock worth $5,854,985. 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.