Scotiabank Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its price target lifted by Scotiabank from C$70.00 to C$90.00 in a research report issued on Monday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential downside of 24.87% from the stock’s previous close.

Several other equities analysts have also recently commented on LUG. Cormark raised their price target on shares of Lundin Gold from C$100.00 to C$115.00 in a research report on Wednesday, January 14th. TD Securities lifted their target price on Lundin Gold from C$95.00 to C$114.00 in a report on Thursday. Jefferies Financial Group upped their target price on shares of Lundin Gold from C$96.00 to C$111.00 in a research note on Monday, December 8th. JPMorgan Chase & Co. lifted their price target on shares of Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. Finally, Canaccord Genuity Group increased their price objective on shares of Lundin Gold from C$103.00 to C$108.00 in a research report on Wednesday, November 12th. Eight analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of C$92.25.

Lundin Gold Stock Performance

Shares of LUG traded down C$1.13 during midday trading on Monday, hitting C$119.79. 433,044 shares of the stock were exchanged, compared to its average volume of 535,854. Lundin Gold has a 52-week low of C$34.07 and a 52-week high of C$125.66. The stock has a fifty day simple moving average of C$114.77 and a 200 day simple moving average of C$96.21. The firm has a market cap of C$28.92 billion, a P/E ratio of 42.33 and a beta of 1.21.

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

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.