Cormark Downgrades Lundin Gold (TSE:LUG) to Hold

Lundin Gold (TSE:LUG) was downgraded by equities researchers at Cormark from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports. Cormark also issued estimates for Lundin Gold’s FY2025 earnings at $2.39 EPS.

LUG has been the subject of several other research reports. BMO Capital Markets cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Desjardins increased their price target on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. CIBC boosted their price target on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Scotiabank increased their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada boosted their target price on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$34.45.

Lundin Gold Stock Performance

Lundin Gold stock opened at C$38.37 on Thursday. The business’s 50-day simple moving average is C$34.38 and its 200-day simple moving average is C$31.65. Lundin Gold has a 52 week low of C$15.12 and a 52 week high of C$41.28. The firm has a market capitalization of C$6.55 billion, a PE ratio of 21.54 and a beta of 1.23.

Insider Buying and Selling

In related news, Director Pablo Mir sold 11,535 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. 58.72% of the stock is currently owned by 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.