Lundin Gold (TSE:LUG) Downgraded by Canaccord Genuity Group to “Hold”

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

LUG has been the subject of a number of other research reports. Cormark upped their price target on Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their target price on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Raymond James downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Jefferies Financial Group increased their price objective on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, TD Securities lifted their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Stock Performance

LUG opened at C$34.60 on Tuesday. The company’s 50 day moving average is C$29.30 and its 200 day moving average is C$23.67. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The company has a market cap of C$8.30 billion, a price-to-earnings ratio of 26.82 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.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The business had revenue of C$412.43 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. On average, equities research analysts predict that Lundin Gold will post 2.5603448 EPS 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 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. 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 shares were 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 business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Over the last three months, insiders sold 72,840 shares of company stock valued at $2,146,122. Insiders own 58.72% 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.