Canaccord Genuity Downgrades Luna Gold to Hold (LGC)
Luna Gold (CVE:LGC) was downgraded by equities research analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday. They currently have a C$1.00 price target on the stock, down from their previous price target of C$1.60. Canaccord Genuity’s price target points to a potential downside of 67.43% from the company’s current price.
Shares of Luna Gold (CVE:LGC) opened at 0.98 on Wednesday. Luna Gold has a 52-week low of $0.92 and a 52-week high of $1.97. The stock has a 50-day moving average of $1.14 and a 200-day moving average of $1.16. The company has a market cap of $119.5 million and a P/E ratio of 6.19.
A number of other firms have also recently commented on LGC. Analysts at Haywood Securities downgraded shares of Luna Gold from a “buy” rating to a “sell” rating in a research note on Wednesday, July 23rd. They now have a C$1.05 price target on the stock, up previously from C$0.80. Analysts at ING Group reiterated a “buy” rating on shares of Luna Gold in a research note on Friday, May 16th. They now have a C$2.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of C$1.31.
Luna Gold Corp. (CVE:LGC) is in the business of mineral exploration, mine development and is engaged in the operation, acquisition, exploration, development and of gold properties in Brazil.
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