Scotiabank Increases Lundin Gold (TSE:LUG) Price Target to C$13.00

Lundin Gold (TSE:LUGGet Rating) had its price objective increased by stock analysts at Scotiabank from C$12.00 to C$13.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 12.85% from the company’s current price.

Several other equities research analysts have also weighed in on LUG. BMO Capital Markets reiterated a “buy” rating and set a C$14.00 price objective on shares of Lundin Gold in a research note on Tuesday, January 11th. National Bankshares boosted their price objective on Lundin Gold from C$11.75 to C$12.25 and gave the company a “sector perform” rating in a research report on Monday, February 28th. Cormark dropped their target price on Lundin Gold from C$14.00 to C$13.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 12th. Finally, TD Securities cut their target price on Lundin Gold from C$15.50 to C$13.50 in a research note on Wednesday, January 26th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Buy” and an average price target of C$13.22.

TSE:LUG traded down C$0.14 during mid-day trading on Tuesday, reaching C$11.52. The stock had a trading volume of 70,292 shares, compared to its average volume of 239,907. The stock’s 50 day simple moving average is C$10.53 and its two-hundred day simple moving average is C$10.30. Lundin Gold has a 1-year low of C$8.82 and a 1-year high of C$12.93. The company has a market capitalization of C$2.70 billion and a price-to-earnings ratio of 9.73. The company has a debt-to-equity ratio of 90.85, a current ratio of 1.70 and a quick ratio of 1.32.

Lundin Gold (TSE:LUGGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The company reported C$0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.25 by C$0.17. The firm had revenue of C$235.05 million for the quarter. Sell-side analysts anticipate that Lundin Gold will post 2.9400001 EPS for the current fiscal year.

In related news, Senior Officer Alessandro Bitelli sold 95,000 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of C$9.92, for a total value of C$942,134.00. Following the completion of the transaction, the insider now owns 175,000 shares in the company, valued at approximately C$1,735,510. Also, Director Ian Gibbs sold 23,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of C$11.05, for a total transaction of C$254,150.00. Following the sale, the director now directly owns 82,700 shares in the company, valued at C$913,835. Insiders sold a total of 214,750 shares of company stock valued at $2,258,701 in the last quarter.

Lundin Gold Company Profile (Get Rating)

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 27 metallic mineral concessions and three construction material concessions covering an area of approximately 64,270 hectares located in Southeast Ecuador. It primary holds interests in the Fruta del Norte gold project comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.

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Analyst Recommendations for Lundin Gold (TSE:LUG)

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