Canaccord Genuity Group Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG) had its target price increased by equities research analysts at Canaccord Genuity Group from C$103.00 to C$108.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective would indicate a potential downside of 3.94% from the company’s current price.

Other research analysts have also issued reports about the stock. BMO Capital Markets increased their price target on shares of Lundin Gold from C$104.00 to C$108.00 in a research note on Monday. Jefferies Financial Group upped their price objective on shares of Lundin Gold from C$82.00 to C$97.00 in a report on Friday, October 17th. Desjardins downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$62.00 to C$70.00 in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price target on Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. Finally, CIBC upped their price target on Lundin Gold from C$85.00 to C$116.00 in a research note on Friday, October 10th. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Lundin Gold has an average rating of “Reduce” and an average target price of C$76.29.

Lundin Gold Stock Down 2.0%

TSE LUG opened at C$112.43 on Wednesday. The firm has a market capitalization of C$27.14 billion, a PE ratio of 39.73 and a beta of 1.35. The stock’s 50 day moving average is C$95.52 and its 200 day moving average is C$78.47. Lundin Gold has a twelve month low of C$29.42 and a twelve month high of C$117.26.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Friday, November 7th. The company reported C$0.86 earnings per share (EPS) for the quarter. The business had revenue of C$622.58 million during the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%. On average, research analysts anticipate that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Activity at Lundin Gold

In related news, insider Chester See sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total value of C$1,666,000.00. Following the completion of the transaction, the insider directly owned 132,571 shares in the company, valued at C$11,043,164.30. The trade was a 13.11% decrease in their position. Also, insider Sheila Margaret Colman sold 14,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total value of C$1,189,754.00. Following the completion of the transaction, the insider directly owned 37,068 shares in the company, valued at C$3,020,671.32. This trade represents a 28.26% decrease in their ownership of the stock. 58.72% of the stock is owned by company 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.