Lundin Gold (TSE:LUG) Stock Rating Lowered by Veritas

Lundin Gold (TSE:LUG) was downgraded by Veritas from a “strong-buy” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

LUG has been the topic of several other reports. Cibc World Mkts lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. National Bankshares raised their price objective on Lundin Gold from C$66.50 to C$67.75 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Desjardins increased their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a report on Thursday, February 13th. TD Securities increased their price objective on Lundin Gold from C$58.00 to C$65.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Finally, Raymond James boosted their target price on shares of Lundin Gold from C$32.00 to C$43.00 in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$48.98.

Lundin Gold Price Performance

Shares of TSE LUG opened at C$67.01 on Monday. Lundin Gold has a one year low of C$18.48 and a one year high of C$74.91. The business’s 50-day moving average price is C$58.13 and its two-hundred day moving average price is C$44.19. The company has a market capitalization of C$11.44 billion, a P/E ratio of 37.61 and a beta of 1.23.

Insider Buying and Selling

In other news, Senior Officer Terrence Smith sold 40,656 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$64.06, for a total value of C$2,604,423.36. Also, Director Pablo Mir sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$57.50, for a total transaction of C$460,000.00. Insiders sold a total of 63,656 shares of company stock valued at $4,060,974 over the last three months. Company insiders own 58.72% of the company’s stock.

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.