Scotiabank Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG - Get Free Report) had its price objective increased by equities researchers at Scotiabank from C$30.00 to C$31.50 in a research report issued on Wednesday,BayStreet.CA reports. Scotiabank's price objective suggests a potential downside of 7.05% from the company's current price.

LUG has been the topic of a number of other reports. Raymond James cut shares of Lundin Gold from an "outperform" rating to a "market perform" rating and lifted their price target for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Desjardins upgraded shares of Lundin Gold to a "moderate buy" rating in a report on Thursday, October 31st. TD Securities increased their price target on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. BMO Capital Markets cut Lundin Gold from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 10th. Finally, CIBC increased their target price on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Lundin Gold presently has a consensus rating of "Moderate Buy" and an average price target of C$33.30.

Lundin Gold Trading Down 1.2 %

Shares of TSE:LUG traded down C$0.41 during trading on Wednesday, reaching C$33.89. The stock had a trading volume of 302,816 shares, compared to its average volume of 332,775. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89. The business has a fifty day moving average price of C$32.11 and a 200-day moving average price of C$29.09. The stock has a market cap of C$8.13 billion, a P/E ratio of 26.27 and a beta of 1.23. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The business had revenue of C$440.77 million for the quarter. As a group, analysts anticipate that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is currently owned by corporate insiders.

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.