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

Lundin Gold (TSE:LUG) was downgraded by research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

Several other equities research analysts have also weighed in on LUG. National Bank Financial upgraded Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. Scotiabank increased their price target on shares of Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. CIBC lifted their price target 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 upped their price objective on shares of 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, Jefferies Financial Group raised their target price 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$29.42.

Lundin Gold Stock Down 0.9 %

Shares of TSE LUG opened at C$34.60 on Tuesday. The firm has a fifty day simple moving average of C$29.30 and a two-hundred day simple moving average of C$23.67. The firm has a market capitalization of C$8.30 billion, a PE ratio of 26.82 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 has a 12 month low of C$14.23 and a 12 month high of C$35.89.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Equities analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Activity at Lundin Gold

In other Lundin Gold news, 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 value of C$459,913.60. In other news, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction that occurred 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 the firm’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 transaction of C$459,913.60. In the last three months, insiders have sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is owned by corporate 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.