Lundin Gold (TSE:LUG) Given New C$21.00 Price Target at Scotiabank

Lundin Gold (TSE:LUG) had its price objective hoisted by Scotiabank from C$20.00 to C$21.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 9.38% from the company’s previous close.

LUG has been the subject of a number of other reports. National Bankshares lifted their target price on shares of Lundin Gold from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Jefferies Financial Group set a C$19.00 price objective on shares of Lundin Gold and gave the company a “buy” rating in a report on Thursday, February 29th. Raymond James set a C$17.50 target price on Lundin Gold and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Desjardins boosted their price target on Lundin Gold from C$19.75 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, December 13th. Finally, Cormark raised their price target on shares of Lundin Gold from C$20.00 to C$21.00 in a research report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$20.15.

Lundin Gold Stock Up 1.6 %

Shares of LUG traded up C$0.31 during midday trading on Thursday, hitting C$19.20. 65,345 shares of the company’s stock traded hands, compared to its average volume of 254,284. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The stock has a market capitalization of C$4.57 billion, a price-to-earnings ratio of 18.82 and a beta of 1.10. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$19.42. The firm’s fifty day moving average is C$16.38 and its 200-day moving average is C$16.16.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The business had revenue of C$259.63 million during the quarter. As a group, sell-side analysts anticipate that Lundin Gold will post 1.4275862 earnings per share for the current year.

Insider Buying and Selling

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. 59.44% of the stock is currently owned by 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.