Lundin Gold (TSE:LUG) Upgraded at Cormark

Lundin Gold (TSE:LUG) was upgraded by stock analysts at Cormark from a “market perform” rating to a “buy” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a C$38.00 target price on the stock, up from their previous target price of C$35.00. Cormark’s target price points to a potential upside of 11.90% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. CIBC lifted their price target on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. TD Securities upped their price objective on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Jefferies Financial Group cut shares of Lundin Gold from a “buy” rating to a “hold” rating and reduced their target price for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lundin Gold currently has an average rating of “Moderate Buy” and a consensus target price of C$33.15.

Lundin Gold Stock Performance

Shares of TSE LUG traded up C$1.09 during midday trading on Friday, hitting C$33.96. 270,185 shares of the company’s stock were exchanged, compared to its average volume of 283,616. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The firm has a market capitalization of C$8.15 billion, a PE ratio of 26.33 and a beta of 1.23. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The company’s 50 day moving average price is C$32.00 and its 200 day moving average price is C$28.64.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. The firm had revenue of C$440.77 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. As a group, analysts predict that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. 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.