Lundin Gold (TSE:LUG) Rating Lowered to “Market Perform” at BMO Capital Markets

Lundin Gold (TSE:LUG) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Tuesday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the company. Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. CIBC boosted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, Scotiabank cut their price target on shares of Lundin Gold from C$31.50 to C$30.00 in a report on Tuesday. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$30.63.

Lundin Gold Trading Down 2.3 %

TSE LUG opened at C$32.99 on Tuesday. The firm’s fifty day moving average is C$32.75 and its two-hundred day moving average is C$26.99. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The firm has a market cap of C$7.92 billion, a PE ratio of 25.57 and a beta of 1.23.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.60 by C$0.16. The firm had revenue of C$440.77 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. Analysts expect that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. In the last three months, insiders sold 56,840 shares of company stock worth $1,686,209. Company insiders own 58.72% of the company’s stock.

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.