Lundin Gold (TSE:LUG) PT Raised to C$32.00 at Cormark

Lundin Gold (TSE:LUG) had its price objective lifted by equities research analysts at Cormark from C$27.00 to C$32.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has a “hold” rating on the stock. Cormark’s price target indicates a potential downside of 2.05% from the stock’s previous close. Cormark also issued estimates for Lundin Gold’s FY2024 earnings at $2.08 EPS.

LUG has been the subject of a number of other research reports. National Bank Financial raised shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. CIBC boosted their price objective on shares of Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. National Bankshares boosted their price objective 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. TD Securities boosted their price objective on shares of 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. Finally, Raymond James downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lundin Gold has an average rating of “Moderate Buy” and an average price target of C$28.33.

Lundin Gold Trading Down 0.2 %

TSE:LUG opened at C$32.67 on Thursday. 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 has a 12 month low of C$14.23 and a 12 month high of C$33.34. The company has a market cap of C$7.84 billion, a PE ratio of 25.33 and a beta of 1.23. The company has a 50 day simple moving average of C$27.60 and a two-hundred day simple moving average of C$22.77.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, August 8th. The company reported C$0.55 EPS 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 during the quarter. Research analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. In other news, Director Ronald F. Hochstein sold 16,200 shares of the company’s stock in a transaction dated 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 the company’s stock in a transaction dated 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 the last quarter, insiders sold 72,840 shares of company stock valued at $2,146,122. 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.