Royal Bank of Canada Increases Lundin Gold (TSE:LUG) Price Target to C$27.00

Lundin Gold (TSE:LUG) had its price objective raised by investment analysts at Royal Bank of Canada from C$25.00 to C$27.00 in a research note issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective suggests a potential downside of 0.04% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. National Bank Financial upgraded shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. Jefferies Financial Group upped their price objective on Lundin Gold from C$26.00 to C$29.00 in a research note on Monday. Raymond James boosted their target price on shares of Lundin Gold from C$21.00 to C$25.00 in a report on Wednesday, July 31st. Cormark lifted their price target on shares of Lundin Gold from C$26.00 to C$27.00 in a report on Friday, August 9th. Finally, Canaccord Genuity Group raised their target price on Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating, six 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 “Buy” and an average price target of C$26.58.

Lundin Gold Price Performance

Shares of LUG traded up C$0.14 during midday trading on Tuesday, hitting C$27.01. The company’s stock had a trading volume of 98,761 shares, compared to its average volume of 252,667. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. Lundin Gold has a one year low of C$14.23 and a one year high of C$28.26. The stock has a market capitalization of C$6.48 billion, a price-to-earnings ratio of 21.31 and a beta of 1.23. The company’s fifty day simple moving average is C$24.28 and its two-hundred day simple moving average is C$20.79.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, August 8th. The company reported C$0.55 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 for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. As a group, equities analysts expect that Lundin Gold will post 2.5546059 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Chester See sold 30,100 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$20.27, for a total transaction of C$610,253.42. 58.79% of the stock is currently owned by company 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.