Lundin Gold (TSE:LUG) Downgraded to Hold at Canaccord Genuity Group

Lundin Gold (TSE:LUG - Get Free Report) was downgraded by investment analysts at Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks.com reports.

Several other analysts also recently weighed in on LUG. CIBC increased their target price on Lundin Gold from C$28.00 to C$34.00 and gave the company an "outperform" rating in a research note on Wednesday, September 11th. Scotiabank increased their price objective on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. TD Securities boosted their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. National Bank Financial upgraded shares of Lundin Gold from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 7th. Finally, Raymond James lowered shares of Lundin Gold from an "outperform" rating to a "market perform" rating and raised their price target for the stock from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, four have issued 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$29.42.

Lundin Gold Stock Performance

Shares of Lundin Gold stock traded up C$0.07 on Tuesday, reaching C$34.67. The stock had a trading volume of 306,939 shares, compared to its average volume of 274,019. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The business's 50-day moving average price is C$29.49 and its two-hundred day moving average price is C$23.74. The stock has a market cap of C$8.32 billion, a P/E ratio of 26.88 and a beta of 1.23. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89.

Lundin Gold (TSE:LUG - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts' consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. On average, sell-side analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Insiders Place Their Bets

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Insiders sold a total of 72,840 shares of company stock worth $2,146,122 over the last quarter. Company insiders own 58.72% of the company's stock.

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.