CIBC Raises Lundin Gold (TSE:LUG) Price Target to C$41.00

Lundin Gold (TSE:LUG) had its price target upped by CIBC from C$34.00 to C$41.00 in a report issued on Monday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 20.41% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. National Bankshares raised their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Canaccord Genuity Group downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Scotiabank boosted their price objective on Lundin Gold from C$25.50 to C$31.50 in a research report on Thursday, November 21st. Cormark lifted their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. 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’s stock. According to MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and an average target price of C$30.50.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$34.05 on Monday. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89. 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 firm’s 50 day moving average price is C$32.16 and its 200-day moving average price is C$26.38. The firm has a market cap of C$8.17 billion, a P/E ratio of 26.40 and a beta of 1.23.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 EPS 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. As a group, equities research analysts predict that Lundin Gold will post 2.5603448 EPS for the current year.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the 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 transaction of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In the last ninety days, insiders have sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is currently owned by 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.