Cormark Downgrades Lundin Gold (TSE:LUG) to Hold

Lundin Gold (TSE:LUG) was downgraded by investment analysts at Cormark from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports. Cormark also issued estimates for Lundin Gold’s FY2025 earnings at $2.39 EPS.

A number of other research analysts also recently weighed in on LUG. CIBC raised their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Desjardins lifted their target price on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group lowered shares of Lundin Gold from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, Scotiabank increased their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$34.45.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$38.37 on Thursday. The company has a market capitalization of C$6.55 billion, a P/E ratio of 21.54 and a beta of 1.23. Lundin Gold has a 52 week low of C$15.12 and a 52 week high of C$41.28. The company’s 50 day moving average price is C$34.38 and its two-hundred day moving average price is C$31.65.

Insider Activity at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is currently owned by 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.