Lundin Gold (TSE:LUG) Rating Lowered to “Hold” at Cibc World Mkts

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

Other equities analysts have also issued research reports about the company. Royal Bank of Canada raised their price objective on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Desjardins raised their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. TD Securities raised their price objective on Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, CIBC lowered Lundin Gold from an “outperform” rating to a “neutral” rating and raised their price objective for the company from C$41.00 to C$44.00 in a research report on Thursday. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$35.45.

Lundin Gold Stock Up 2.2 %

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

Insider Activity at Lundin Gold

In related news, Director Ronald F. Hochstein sold 88,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Also, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Over the last ninety days, insiders sold 144,685 shares of company stock worth $5,854,985. 58.72% of the stock is 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.