Lundin Gold (TSE:LUG) Stock Rating Lowered by Cibc World Mkts

Lundin Gold (TSE:LUG) was downgraded by research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on LUG. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Cormark cut Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Desjardins upped their target price on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, CIBC downgraded shares of Lundin Gold from an “outperform” rating to a “neutral” rating and raised their price target for the company from C$41.00 to C$44.00 in a report on Thursday. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Hold” and an average target price of C$35.45.

Lundin Gold Stock Up 2.2 %

Lundin Gold stock opened at C$43.60 on Thursday. The stock’s 50 day moving average is C$38.73 and its 200 day moving average is C$33.96. The company has a market capitalization of C$7.44 billion, a P/E ratio of 24.47 and a beta of 1.23. Lundin Gold has a twelve month low of C$18.08 and a twelve month high of C$45.82.

Insider Activity

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total transaction of C$413,226.00. Also, Senior Officer Chester See sold 5,800 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. Insiders sold a total of 144,685 shares of company stock valued at $5,854,985 in the last 90 days. Company insiders own 58.72% of the company’s stock.

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.