ATB Cormark Capital Markets Upgrades Lundin Gold (TSE:LUG) to Outperform

Lundin Gold (TSE:LUG) was upgraded by stock analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a C$130.00 price target on the stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 34.35% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada raised their target price on shares of Lundin Gold from C$91.00 to C$113.00 in a research note on Thursday, March 12th. BMO Capital Markets decreased their price target on shares of Lundin Gold from C$128.00 to C$119.00 in a report on Monday, February 23rd. Cormark lifted their price objective on shares of Lundin Gold from C$100.00 to C$115.00 in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce lifted their price target on Lundin Gold from C$123.00 to C$141.00 in a research note on Wednesday, February 4th. Finally, TD Securities increased their price objective on Lundin Gold from C$95.00 to C$114.00 in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lundin Gold currently has an average rating of “Hold” and a consensus price target of C$100.62.

Lundin Gold Stock Up 4.7%

TSE:LUG traded up C$4.36 during trading hours on Friday, hitting C$96.76. 233,971 shares of the company’s stock traded hands, compared to its average volume of 613,940. Lundin Gold has a 52 week low of C$54.03 and a 52 week high of C$130.98. The business’s fifty day simple moving average is C$107.71 and its two-hundred day simple moving average is C$109.64. The firm has a market cap of C$23.40 billion, a P/E ratio of 29.59 and a beta of 1.57.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, May 7th. The company reported C$1.57 earnings per share for the quarter. The business had revenue of C$788.83 million for the quarter. Lundin Gold had a return on equity of 60.01% and a net margin of 44.42%. On average, analysts expect that Lundin Gold will post 2.5603448 EPS for the current year.

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company’s board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.