Lundin Gold (TSE:LUG) Cut to "Sector Perform" at National Bankshares

Lundin Gold (TSE:LUG - Get Free Report) was downgraded by investment analysts at National Bankshares from an "outperform" rating to a "sector perform" rating in a research note issued on Tuesday,BayStreet.CA reports. They presently have a C$89.00 price objective on the stock, up from their previous price objective of C$67.75. National Bankshares' target price suggests a potential upside of 22.22% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. CIBC lifted their price target on shares of Lundin Gold from C$44.00 to C$46.00 in a research note on Thursday, April 17th. BMO Capital Markets lifted their price target on shares of Lundin Gold from C$45.00 to C$62.00 in a research note on Friday, May 9th. Jefferies Financial Group lifted their price target on shares of Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. Raymond James Financial lifted their price target on shares of Lundin Gold from C$32.00 to C$43.00 in a research note on Friday, April 4th. Finally, Cibc World Mkts cut shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Lundin Gold presently has an average rating of "Hold" and an average price target of C$50.91.

Lundin Gold Stock Up 2.9%

Shares of TSE:LUG traded up C$2.07 during trading on Tuesday, hitting C$72.82. 589,416 shares of the stock traded hands, compared to its average volume of 647,241. The company has a market cap of C$12.43 billion, a price-to-earnings ratio of 40.88 and a beta of 1.23. The company has a fifty day moving average price of C$63.60 and a two-hundred day moving average price of C$47.08. Lundin Gold has a 52-week low of C$19.48 and a 52-week high of C$75.19.

Insiders Place Their Bets

In other news, Senior Officer Terrence Smith sold 40,656 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total transaction of C$2,604,423.36. Also, Director Pablo Mir sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of C$57.50, for a total transaction of C$460,000.00. Insiders have sold a total of 65,056 shares of company stock valued at $4,166,044 in the last 90 days. 58.72% of the stock is owned by insiders.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.