Lundin Gold (TSE:LUG) Price Target Lowered to C$89.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Lundin Gold’s price target to C$89.00 from C$98.00, implying 2.41% downside from the previous close.
• Other analysts have also reduced their targets, but the stock retains a consensus “Buy” rating with an average price target of C$99.33.
• Lundin Gold shares recently traded at C$91.20, while the company reported quarterly EPS of C$1.19 and revenue of C$678.70 million; it operates the Fruta del Norte gold mine in Ecuador.

Lundin Gold (TSE:LUG - Get Free Report) had its target price decreased by equities research analysts at Royal Bank Of Canada from C$98.00 to C$89.00 in a research note issued to investors on Wednesday, BayStreet reports. Royal Bank Of Canada's target price points to a potential downside of 2.41% from the company's previous close.

Several other research analysts have also commented on the company. Canadian Imperial Bank of Commerce decreased their target price on Lundin Gold from C$137.00 to C$131.00 in a research report on Monday, August 10th. Jefferies Financial Group dropped their price target on Lundin Gold from C$90.00 to C$88.00 in a research report on Monday, July 6th. Finally, Desjardins decreased their price objective on shares of Lundin Gold from C$105.00 to C$100.00 and set a "buy" rating for the company in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of C$99.33.

Lundin Gold Stock Performance

Shares of Lundin Gold stock traded up C$0.05 during trading on Wednesday, reaching C$91.20. The company had a trading volume of 272,498 shares, compared to its average volume of 620,843. Lundin Gold has a fifty-two week low of C$71.51 and a fifty-two week high of C$130.98. The firm's fifty day moving average is C$89.06 and its 200-day moving average is C$93.75. The company has a market cap of C$22.05 billion, a price-to-earnings ratio of 23.69 and a beta of 1.64.

Lundin Gold (TSE:LUG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$1.19 EPS for the quarter. The business had revenue of C$678.70 million during the quarter. Lundin Gold had a return on equity of 81.63% and a net margin of 46.31%. On average, research analysts anticipate that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

About Lundin Gold

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company's board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.

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