Lundin Gold (TSE:LUG) Lowered to "Hold" Rating by Cibc World Mkts

Lundin Gold (TSE:LUG - Get Free Report) was downgraded by equities researchers 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.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their target price on Lundin Gold from C$31.00 to C$35.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. BMO Capital Markets cut shares of Lundin Gold from an "outperform" rating to a "market perform" rating in a report on Tuesday, December 10th. Cormark lowered shares of Lundin Gold from a "moderate buy" rating to a "hold" rating in a research note on Thursday, February 20th. Scotiabank boosted their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Finally, CIBC lowered Lundin Gold from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from C$41.00 to C$44.00 in a report on Thursday, March 20th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of C$35.45.

Lundin Gold Price Performance

Shares of Lundin Gold stock traded up C$0.55 during trading on Thursday, hitting C$43.93. 138,015 shares of the stock were exchanged, compared to its average volume of 417,150. The firm's 50-day moving average price is C$38.92 and its 200 day moving average price is C$34.18. The stock has a market cap of C$7.50 billion, a price-to-earnings ratio of 24.66 and a beta of 1.23. Lundin Gold has a 12-month low of C$18.08 and a 12-month high of C$45.82.

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Insider Activity at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total value of C$413,226.00. Also, Senior Officer Chester See sold 5,800 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. Insiders sold a total of 144,685 shares of company stock worth $5,854,985 over the last 90 days. Company insiders own 58.72% 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.