Lundin Gold (TSE:LUG) Raised to “Moderate Buy” at Desjardins

Lundin Gold (TSE:LUG) was upgraded by research analysts at Desjardins to a “moderate buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

LUG has been the subject of several other reports. TD Securities upped their target price on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Cormark boosted their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, National Bank Financial upgraded Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lundin Gold currently has an average rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Price Performance

Shares of LUG traded down C$0.31 during mid-day trading on Thursday, hitting C$33.36. The company’s stock had a trading volume of 180,901 shares, compared to its average volume of 272,461. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a 50-day moving average price of C$30.32 and a 200 day moving average price of C$24.34. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89. The stock has a market capitalization of C$8.01 billion, a price-to-earnings ratio of 25.86 and a beta of 1.23.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The business had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. On average, research analysts predict that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Insider Activity at Lundin Gold

In other news, Director Ronald F. Hochstein sold 16,200 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total transaction of C$477,891.90. In related news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Director Ronald F. Hochstein sold 16,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Over the last quarter, insiders have sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is currently owned by corporate insiders.

Lundin Gold Company Profile

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.