Canaccord Genuity Group Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG) had its target price boosted by stock analysts at Canaccord Genuity Group from C$103.00 to C$108.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price target would suggest a potential downside of 6.36% from the company’s previous close.

A number of other research analysts also recently commented on LUG. TD Securities downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating and increased their price target for the company from C$65.00 to C$73.00 in a report on Wednesday, July 16th. Jefferies Financial Group boosted their target price on Lundin Gold from C$82.00 to C$97.00 in a research report on Friday, October 17th. Raymond James Financial raised their price target on Lundin Gold from C$65.00 to C$80.00 in a research report on Friday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. Finally, BMO Capital Markets raised their target price on shares of Lundin Gold from C$104.00 to C$108.00 in a report on Monday. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of C$75.71.

Lundin Gold Price Performance

Shares of TSE LUG traded up C$5.82 during midday trading on Wednesday, reaching C$115.33. 569,632 shares of the stock traded hands, compared to its average volume of 813,200. The company’s 50 day moving average is C$94.61 and its 200 day moving average is C$77.97. Lundin Gold has a one year low of C$29.42 and a one year high of C$116.20. The stock has a market capitalization of C$27.84 billion, a PE ratio of 40.75 and a beta of 1.35.

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

Insider Transactions at Lundin Gold

In other Lundin Gold news, insider Sheila Margaret Colman sold 14,600 shares of Lundin Gold stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of C$81.49, for a total value of C$1,189,754.00. Following the transaction, the insider owned 37,068 shares in the company, valued at C$3,020,671.32. The trade was a 28.26% decrease in their ownership of the stock. Also, insider Chester See sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the completion of the transaction, the insider owned 132,571 shares of the company’s stock, valued at C$11,043,164.30. This represents a 13.11% decrease in their ownership of the stock. 58.72% of the stock is owned by company insiders.

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.