Lundin Gold (TSE:LUG) Rating Increased to Outperform at National Bankshares

Lundin Gold (TSE:LUG) was upgraded by National Bankshares from a “sector perform” rating to an “outperform” rating in a research report issued on Monday, BayStreet.CA reports. The firm currently has a C$27.75 price objective on the stock, up from their prior price objective of C$25.25. National Bankshares’ price objective would suggest a potential upside of 26.14% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a research note on Friday, May 10th. Raymond James lifted their price objective on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday, April 23rd. Veritas Investment Research lifted their price objective on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Jefferies Financial Group lifted their price objective on shares of Lundin Gold from C$23.00 to C$24.00 in a research note on Thursday, June 6th. Finally, Scotiabank lifted their price objective on shares of Lundin Gold from C$21.00 to C$23.50 in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$23.15.

Lundin Gold Price Performance

Shares of LUG opened at C$22.00 on Monday. The company has a market cap of C$5.26 billion, a price-to-earnings ratio of 22.92 and a beta of 1.14. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$22.17. The company has a quick ratio of 1.41, a current ratio of 3.08 and a debt-to-equity ratio of 33.65. The company has a 50 day moving average of C$19.85 and a two-hundred day moving average of C$17.99.

Lundin Gold (TSE:LUG) last announced its earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.33 by C($0.01). The firm had revenue of C$305.68 million during the quarter. Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%. As a group, analysts predict that Lundin Gold will post 1.6959518 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lundin Gold news, Director Ian Gibbs sold 30,000 shares of Lundin Gold stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. Also, Director Ian Gibbs sold 30,000 shares of Lundin Gold stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total transaction of C$597,000.00. Insiders sold a total of 110,100 shares of company stock valued at $2,219,753 over the last 90 days. Insiders own 58.99% of the company’s stock.

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.