Canadian Imperial Bank of Commerce Lowers Lundin Gold (TSE:LUG) Price Target to C$131.00

Lundin Gold (TSE:LUG) had its price objective cut by Canadian Imperial Bank of Commerce from C$137.00 to C$131.00 in a report issued on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 44.04% from the company’s current price.

A number of other research analysts have also weighed in on LUG. ATB Cormark Capital Markets raised shares of Lundin Gold from a “sector perform” rating to an “outperform” rating and set a C$130.00 target price for the company in a research report on Friday, May 8th. Desjardins dropped their price objective on Lundin Gold from C$105.00 to C$100.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Finally, Jefferies Financial Group cut their price objective on Lundin Gold from C$90.00 to C$88.00 in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Lundin Gold currently has an average rating of “Buy” and a consensus price target of C$101.33.

Lundin Gold Price Performance

LUG traded down C$1.08 on Monday, hitting C$90.95. The company had a trading volume of 228,167 shares, compared to its average volume of 635,314. The company’s fifty day moving average price is C$80.03 and its 200 day moving average price is C$96.63. Lundin Gold has a 1-year low of C$71.51 and a 1-year high of C$130.98. The stock has a market cap of C$21.99 billion, a price-to-earnings ratio of 23.62 and a beta of 1.62.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$1.19 EPS for the quarter. Lundin Gold had a return on equity of 81.63% and a net margin of 46.31%.The company had revenue of C$678.70 million for the quarter. On average, sell-side analysts forecast that Lundin Gold will post 2.5603448 EPS for the current year.

Lundin Gold Company Profile

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company’s board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.