Lundin Gold (TSE:LUG) Price Target Raised to C$35.00

Lundin Gold (TSE:LUG) had its price objective increased by research analysts at Jefferies Financial Group from C$29.00 to C$35.00 in a research report issued on Friday, BayStreet.CA reports. Jefferies Financial Group’s target price would suggest a potential upside of 11.29% from the stock’s previous close.

A number of other brokerages also recently weighed in on LUG. TD Securities raised their price objective on Lundin Gold from C$24.00 to C$27.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Cormark lifted their price target on Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th. Canaccord Genuity Group lifted their price objective on Lundin Gold from C$27.50 to C$28.50 in a report on Tuesday, August 20th. National Bankshares lifted their price target on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Scotiabank lifted their price target on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus price target of C$27.92.

Lundin Gold Stock Up 2.4 %

TSE:LUG traded up C$0.75 during trading hours on Friday, reaching C$31.45. 259,096 shares of the company traded hands, compared to its average volume of 270,602. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$31.72. The business’s 50-day moving average price is C$26.76 and its two-hundred day moving average price is C$22.30. The stock has a market capitalization of C$7.54 billion, a P/E ratio of 24.73 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last issued 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). Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The company had revenue of C$412.43 million for the quarter. Analysts predict that Lundin Gold will post 2.5618964 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. 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 value of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In the last quarter, insiders sold 72,840 shares of company stock worth $2,146,122. Corporate insiders own 58.75% 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.