Lundin Gold (TSE:LUG) Cut to “Market Perform” at BMO Capital Markets

Lundin Gold (TSE:LUG) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports.

Other research analysts also recently issued research reports about the company. CIBC boosted their target price on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. TD Securities boosted their price target on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada raised their price target on shares of Lundin Gold from C$27.00 to C$31.00 in a report on Friday. Five investment 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 company. According to MarketBeat, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus price target of C$30.71.

Lundin Gold Trading Down 4.3 %

Lundin Gold stock traded down C$1.53 during midday trading on Tuesday, reaching C$33.93. The stock had a trading volume of 423,758 shares, compared to its average volume of 277,192. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$35.89. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market cap of C$8.14 billion, a price-to-earnings ratio of 26.30 and a beta of 1.23. The firm’s fifty day simple moving average is C$32.59 and its two-hundred day simple moving average is C$26.80.

Lundin Gold (TSE:LUG) last released its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The company had revenue of C$440.77 million during the quarter. Equities analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In the last 90 days, insiders sold 72,840 shares of company stock valued at $2,146,122. Insiders own 58.72% of the company’s stock.

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.