Scotiabank Increases Lundin Gold (TSE:LUG) Price Target to C$23.50

Lundin Gold (TSE:LUG) had its price objective upped by analysts at Scotiabank from C$21.00 to C$23.50 in a report released on Thursday, BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 19.35% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Veritas Investment Research lifted their price target on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Jefferies Financial Group boosted their target price on Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. National Bankshares boosted their target price on Lundin Gold from C$24.75 to C$25.25 in a research note on Wednesday, May 15th. Raymond James boosted their target price on Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity Group boosted their target price on Lundin Gold from C$22.75 to C$23.25 in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Lundin Gold presently has an average rating of “Moderate Buy” and an average price target of C$22.50.

Lundin Gold Price Performance

Shares of Lundin Gold stock opened at C$19.69 on Thursday. The company has a debt-to-equity ratio of 33.65, a current ratio of 3.08 and a quick ratio of 1.41. The business’s 50 day simple moving average is C$19.12 and its two-hundred day simple moving average is C$17.08. The stock has a market capitalization of C$4.70 billion, a P/E ratio of 19.12 and a beta of 1.14. Lundin Gold has a one year low of C$14.23 and a one year high of C$20.82.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The company had revenue of C$259.63 million during the quarter. Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. Analysts forecast that Lundin Gold will post 1.6468619 EPS for the current year.

Insider Activity

In other news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. In other news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. Also, Director Ian Gibbs sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. Insiders have sold a total of 180,000 shares of company stock valued at $3,282,830 over the last ninety days. 59.01% of the stock is currently owned by corporate insiders.

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.