Lundin Gold (TSE:LUG) Given New C$31.00 Price Target at Royal Bank of Canada

Lundin Gold (TSE:LUG) had its target price raised by stock analysts at Royal Bank of Canada from C$27.00 to C$31.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential downside of 10.51% from the stock’s current price.

Several other brokerages have also issued reports on LUG. TD Securities raised their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Scotiabank lifted their price objective on shares of Lundin Gold from C$25.50 to C$31.50 in a research note on Thursday, November 21st. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Finally, Jefferies Financial Group lifted their price objective on shares of Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$30.83.

Lundin Gold Trading Down 0.3 %

Shares of LUG stock opened at C$34.64 on Friday. The company has a 50 day moving average of C$32.46 and a 200-day moving average of C$26.64. 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 has a 12-month low of C$14.23 and a 12-month high of C$35.89. The firm has a market cap of C$8.31 billion, a P/E ratio of 26.85 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its quarterly 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 company had revenue of C$440.77 million during the quarter. Sell-side analysts anticipate that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Buying and Selling at Lundin Gold

In other news, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total transaction of C$477,891.90. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold 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. Insiders sold a total of 72,840 shares of company stock valued at $2,146,122 in the last three months. 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.