Lundin Gold (TSE:LUG) Given New C$28.00 Price Target at Veritas Investment Research

Lundin Gold (TSE:LUG) had its price objective upped by equities research analysts at Veritas Investment Research from C$20.90 to C$28.00 in a report issued on Friday, BayStreet.CA reports. Veritas Investment Research’s target price points to a potential upside of 49.02% from the stock’s previous close.

A number of other research firms have also recently issued reports on LUG. Cormark raised shares of Lundin Gold from a “market perform” rating to a “buy” rating and raised their price target for the stock from C$21.00 to C$22.00 in a report on Friday. National Bankshares raised their price target on shares of Lundin Gold from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Scotiabank raised their price target on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th. Jefferies Financial Group set a C$19.00 price target on shares of Lundin Gold and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Raymond James set a C$17.50 price target on shares of Lundin Gold and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$20.95.

Lundin Gold Stock Up 0.1 %

TSE:LUG traded up C$0.01 during midday trading on Friday, reaching C$18.79. 319,029 shares of the stock traded hands, compared to its average volume of 266,029. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$19.57. The business has a 50-day moving average of C$17.14 and a two-hundred day moving average of C$16.42. The company has a debt-to-equity ratio of 31.98, a quick ratio of 1.41 and a current ratio of 2.86. The stock has a market capitalization of C$4.47 billion, a PE ratio of 18.42 and a beta of 1.10.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The firm had revenue of C$259.63 million for the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. On average, equities analysts forecast that Lundin Gold will post 1.3629738 earnings per share for the current fiscal year.

Insider Activity at Lundin Gold

In other news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. 59.46% of the stock is owned by company insiders.

About Lundin Gold

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.