Lundin Gold (TSE:LUG) Rating Increased to Buy at Cormark

Lundin Gold (TSE:LUG) was upgraded by equities research analysts at Cormark from a “market perform” rating to a “buy” rating in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a C$22.00 target price on the stock, up from their previous target price of C$21.00. Cormark’s price objective suggests a potential upside of 19.31% from the company’s previous close.

A number of other brokerages have also recently weighed in on LUG. Raymond James set a C$17.50 price objective on Lundin Gold and gave the company an “outperform” rating in a research note on Thursday, January 25th. National Bankshares lifted their price objective on Lundin Gold from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. Jefferies Financial Group set a C$19.00 price objective on Lundin Gold and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Scotiabank lifted their price objective on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$20.95.

Lundin Gold Price Performance

LUG stock opened at C$18.44 on Friday. The business has a fifty day moving average of C$17.18 and a two-hundred day moving average of C$16.44. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98. The stock has a market cap of C$4.39 billion, a price-to-earnings ratio of 18.08 and a beta of 1.10. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$19.57.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.21 by C($0.02). The business had revenue of C$259.63 million for the quarter. Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%. As a group, research analysts anticipate that Lundin Gold will post 1.3629738 earnings per share for the current year.

Insider Activity at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of Lundin Gold stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total value of C$1,673,330.00. 59.46% of the stock is currently owned by company 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.