Cormark Boosts Lundin Gold (TSE:LUG) Price Target to C$23.00

Lundin Gold (TSE:LUG) had its price target boosted by equities researchers at Cormark from C$22.00 to C$23.00 in a research note issued on Friday, BayStreet.CA reports. Cormark’s price objective would indicate a potential upside of 14.60% from the stock’s previous close.

Several other analysts have also weighed in on the company. Raymond James set a C$17.50 price objective on Lundin Gold and gave the stock an “outperform” rating in a report on Thursday, January 25th. National Bankshares raised their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a report on Friday. Scotiabank upped their target price on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Veritas Investment Research lifted their price objective on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Finally, Jefferies Financial Group set a C$19.00 target price on Lundin Gold and gave the stock a “buy” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$21.48.

Lundin Gold Stock Up 1.6 %

Shares of TSE:LUG traded up C$0.32 during trading on Friday, reaching C$20.07. 231,373 shares of the company traded hands, compared to its average volume of 271,630. The firm has a fifty day simple moving average of C$17.45 and a 200 day simple moving average of C$16.54. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$20.36. The firm has a market cap of C$4.78 billion, a P/E ratio of 19.68 and a beta of 1.10.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 earnings per share for the quarter, missing the consensus estimate of C$0.21 by C($0.02). The business had revenue of C$259.63 million for the quarter. Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%. Analysts anticipate that Lundin Gold will post 1.3629738 earnings per share for the current fiscal year.

Insider Transactions at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total value of C$1,673,330.00. 59.46% of the stock is owned by company insiders.

About Lundin Gold

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.