CIBC Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG) had its price objective boosted by CIBC from C$116.00 to C$123.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 8.27% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their price objective on Lundin Gold from C$82.00 to C$97.00 in a report on Friday, October 17th. BMO Capital Markets upped their price objective on Lundin Gold from C$104.00 to C$108.00 in a report on Monday. JPMorgan Chase & Co. increased their price objective on Lundin Gold from C$16.00 to C$28.00 in a research report on Friday, October 10th. Canaccord Genuity Group boosted their price target on Lundin Gold from C$103.00 to C$108.00 in a research note on Wednesday. Finally, Raymond James Financial raised their target price on shares of Lundin Gold from C$65.00 to C$80.00 in a report on Friday, October 10th. Ten analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of C$76.29.

Lundin Gold Price Performance

TSE LUG traded down C$1.12 during trading on Thursday, reaching C$113.60. 799,616 shares of the company’s stock were exchanged, compared to its average volume of 815,229. The business has a 50 day moving average price of C$95.10 and a 200-day moving average price of C$78.23. The stock has a market capitalization of C$27.42 billion, a P/E ratio of 40.14 and a beta of 1.35. Lundin Gold has a fifty-two week low of C$29.42 and a fifty-two week high of C$117.26.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Friday, November 7th. The company reported C$0.86 earnings per share (EPS) for the quarter. Lundin Gold had a return on equity of 29.88% and a net margin of 29.56%.The company had revenue of C$622.58 million during the quarter. On average, analysts forecast that Lundin Gold will post 2.5603448 earnings per share for the current year.

Insider Buying and Selling at Lundin Gold

In other news, insider Sheila Margaret Colman sold 14,600 shares of Lundin Gold stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total transaction of C$1,189,754.00. Following the completion of the transaction, the insider directly owned 37,068 shares in the company, valued at C$3,020,671.32. This trade represents a 28.26% decrease in their ownership of the stock. Also, insider Chester See sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of C$83.30, for a total value of C$1,666,000.00. Following the sale, the insider directly owned 132,571 shares of the company’s stock, valued at C$11,043,164.30. This represents a 13.11% decrease in their ownership of the stock. 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.