CIBC Downgrades Lundin Gold (TSE:LUG) to Neutral

Lundin Gold (TSE:LUG) was downgraded by research analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They presently have a C$44.00 target price on the stock, up from their prior target price of C$41.00. CIBC’s price target indicates a potential upside of 2.37% from the stock’s current price.

LUG has been the topic of a number of other reports. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Desjardins lifted their price target on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Cormark cut shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Scotiabank lifted their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada upped their price target on shares of Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lundin Gold has a consensus rating of “Hold” and a consensus price target of C$35.45.

Lundin Gold Stock Down 2.7 %

Shares of TSE:LUG traded down C$1.19 during midday trading on Thursday, reaching C$42.98. The company’s stock had a trading volume of 210,416 shares, compared to its average volume of 408,228. The firm has a market capitalization of C$7.34 billion, a PE ratio of 24.13 and a beta of 1.23. Lundin Gold has a twelve month low of C$18.08 and a twelve month high of C$45.82. The stock has a fifty day moving average of C$38.08 and a 200 day moving average of C$33.71.

Insider Activity

In other news, Director Pablo Mir sold 11,535 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of Lundin Gold stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total transaction of C$413,226.00. In the last three months, insiders sold 144,685 shares of company stock worth $5,854,985. 58.72% of the stock is currently owned by insiders.

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.