CIBC Downgrades Lundin Gold (TSE:LUG) to Neutral

Lundin Gold (TSE:LUG) was downgraded by stock analysts at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Thursday,BayStreet.CA reports. They presently have a C$44.00 price objective on the stock, up from their previous price objective of C$41.00. CIBC’s price objective points to a potential upside of 2.37% from the company’s previous close.

LUG has been the subject of a number of other research reports. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and cut their target price for the stock from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on shares of Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Desjardins lifted their price target on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. TD Securities lifted their price target on shares of Lundin Gold from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$35.45.

Lundin Gold Trading Down 2.7 %

TSE:LUG traded down C$1.19 during trading hours on Thursday, reaching C$42.98. The company had a trading volume of 210,416 shares, compared to its average volume of 408,228. Lundin Gold has a 52 week low of C$18.08 and a 52 week high of C$45.82. The firm has a market cap of C$7.34 billion, a price-to-earnings ratio of 24.13 and a beta of 1.23. The firm’s 50 day moving average price is C$38.08 and its 200-day moving average price is C$33.71.

Insider Buying and Selling at Lundin Gold

In other news, Director Ian Gibbs sold 14,200 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total value of C$587,880.00. Also, Senior Officer Chester See sold 5,800 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. In the last ninety days, insiders have sold 144,685 shares of company stock worth $5,854,985. 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.