TD Securities Downgrades Lundin Gold (TSE:LUG) to Hold

Lundin Gold (TSE:LUG) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Wednesday,BayStreet.CA reports. They presently have a C$73.00 price objective on the stock, up from their previous price objective of C$65.00. TD Securities’ target price points to a potential upside of 13.74% from the stock’s previous close.

LUG has been the topic of several other reports. Jefferies Financial Group raised their target price on Lundin Gold from C$36.00 to C$45.00 in a report on Friday, April 4th. Raymond James Financial raised their target price on Lundin Gold from C$32.00 to C$43.00 in a report on Friday, April 4th. Veritas lowered Lundin Gold from a “strong-buy” rating to a “strong sell” rating in a report on Monday, June 9th. BMO Capital Markets raised their target price on Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. Finally, National Bank Financial lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$51.64.

Lundin Gold Stock Down 1.8%

Lundin Gold stock opened at C$64.18 on Wednesday. The firm has a market cap of C$10.96 billion, a price-to-earnings ratio of 36.03 and a beta of 1.23. Lundin Gold has a 52 week low of C$21.51 and a 52 week high of C$75.19. The business’s 50-day moving average price is C$67.59 and its 200 day moving average price is C$51.31.

Insider Buying and Selling

In other Lundin Gold news, Director Pablo Mir sold 15,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of C$66.44, for a total transaction of C$996,550.50. Also, Senior Officer Terrence Smith sold 40,656 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total value of C$2,604,423.36. Over the last 90 days, insiders have sold 65,056 shares of company stock worth $4,166,044. 58.72% of the stock is owned by corporate insiders.

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.