Lundin Gold (TSE:LUG) Stock Price Expected to Rise, Scotiabank Analyst Says

Lundin Gold (TSE:LUG) had its price objective upped by equities research analysts at Scotiabank from C$70.00 to C$90.00 in a research report issued on Monday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential downside of 26.81% from the company’s previous close.

Several other brokerages have also issued reports on LUG. CIBC lifted their price target on shares of Lundin Gold from C$116.00 to C$123.00 in a report on Thursday, November 13th. Cormark boosted their price objective on Lundin Gold from C$100.00 to C$115.00 in a research report on Wednesday, January 14th. BMO Capital Markets increased their target price on Lundin Gold from C$118.00 to C$125.00 in a research report on Tuesday, January 13th. TD Securities raised their price objective on shares of Lundin Gold from C$95.00 to C$114.00 in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group upped their price target on shares of Lundin Gold from C$103.00 to C$108.00 in a research report on Wednesday, November 12th. Eight investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of C$92.25.

Lundin Gold Price Performance

Shares of LUG opened at C$122.97 on Monday. The firm has a 50 day simple moving average of C$115.05 and a two-hundred day simple moving average of C$96.93. The company has a market cap of C$29.69 billion, a P/E ratio of 43.45 and a beta of 1.21. Lundin Gold has a one year low of C$34.07 and a one year high of C$125.66.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Friday, November 7th. The company reported C$0.86 EPS for the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.The company had revenue of C$622.58 million during the quarter. On average, analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current fiscal year.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.